OPEC+’s agreement to reduce oil production has already brought Russia 30 trillion rubles of budget revenue. In an interview about this “Russia 24” said RDIF chairman Kirill Dmitriev.
According to him, this amount corresponds to more than $ 300 billion in Russian assets frozen in the West after the start of a special operation in Ukraine.
“This is the result of close and trust-based cooperation between Saudi Arabia and other OPEC+ members,” Dmitriev said.
OPEC+ agreed to reduce oil production by 2 million barrels per day in 2023 compared to August 2022. Starting from 2024, quotas will be reduced by another 1.4 million barrels.
In addition, some countries, including Russia and Saudi Arabia, are voluntarily reducing production by 1.66 million barrels. These measures will be extended until the end of 2024. After the start of the special operation against Ukraine, the EU and G7 countries froze Russia’s reserves of approximately 300 billion dollars. This is almost half of their total volume.
Before that Nabiullina said About the plans of the Central Bank in case of an increase in oil prices.
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