-Russia monitors oil price volatility
The rapid decline in oil prices is one of Russia's current main topics of discussion.
The Russian media claim that U.S. President Donald Trump has been pushing Saudi Arabia to lower oil prices after the Khashoggi murder, and ahead of the OPEC meeting next month where it could well be decided if the output will be further cut.
Russian Central Bank President Elvira Nabiullina announced last week the various forecasting scenarios for the Russian economy in her speech at the Lower House of the Russian parliament, the Duma.
Nabiullina said they consider a scenario in which oil prices could fall to $55 per barrel in 2019 as the most likely.
"In this case, the growth rate of the Russian economy in 2019 will be between 1.1 percent to 1.7 percent,” she said.
In another risk scenario, she noted that oil prices could fall by up to $35 per barrel in 2019, adding: "This is not a precise prediction, but we need to understand the situation after such a negative development. If this happens, the Russian economy will fall into recession in 2019.”
Nonetheless, Alexander Morozov, director of the Central Bank of Russia's Research and Forecasting Department, said they have the tools to mitigate the impact of external shocks on the country's economy.
-Russian media: TurkStream route agreed
According to the Kommersant newspaper, Gazprom, the Russian energy company, decided that the natural gas pipeline project would pass through Bulgaria, Serbia, Hungary and Slovakia to Europe.
A similar route was planned for the South Stream project, which was canceled by Gazprom in 2014 due to the European Union’s objections.
It has been suggested that Gazprom could cut natural gas through Ukraine from 2022 if this route is implemented.
