Sanctions And The Falling Price For Oil Is Hitting The Russia Economy

A man holds ruble banknotes at an automated teller machine inside a branch of Russia's Sberbank in St. Petersburg. Alexander Demianchuk / Reuters

Sanctions, Falling Oil Prices Costing Russia Billions -- Voice of America

Russia's finance minister says the country is on course to lose $130-140 billion annually due to Western sanctions and falling oil prices.

Speaking Monday at an economic forum in Moscow, Anton Siluanov signaled that slumping oil prices are a more serious challenge for Russia than Western punitive measures over Ukraine.

"We're losing around $40 billion a year because of geopolitical sanctions, and about $90 billion to $100 billion from oil prices falling by 30 percent," he told a news conference.

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More News On How Sanctions And The Falling Price For Oil Is Hitting The Russia Economy

Russia loses $140bn with sanctions and falling oil prices – Finance Minister -- RT
Oil price slide and sanctions 'cost Russia $140bn' -- BBC
Russian Official Says Oil Slump and Sanctions Cost $140 Billion a Year -- Reuters
Russia Is Losing Up To $140 Billion Per Year From Western Sanctions And Oil Price Fall -- Business Insider/AFP
Russian Official Says Oil Slump and Sanctions Cost $140 Billion a Year -- Time
Russia to lose some $40B a year due to sanctions: minister -- Daily Star/AFP
Russia faces recession as oil crash and sanctions cost economy £90bn -- The Telegraph
Russia Calls Western Sanctions Over Ukraine ‘Blackmail’ Tool, Costing Country $40B A Year -- IBTimes
Russia specifies losses over sanctions -- Deutsche Welle