Russian Govt to support the Oil companies in the time of sanctions

The rules of the game are observed by the business department columnist Yuri Barsukov.

In recent months there is a consensus in the global oil industry that in the foreseeable future it awaits lower investment and abandonment of the least effective projects. Indeed, the oil prices fell sharply due to an imbalance of supply and demand, threatening the profitability of many projects. The situation with the oil production in Russia, in theory, should be imposed by the financial and technological sanctions exacerbated by the West. But Russian authorities continue to loudly defend the idea that the crisis will not affect industry in the country. The government would not allow the reduction of oil production in 2015, Arkady Dvorkovich stated yesterday, the authorities might financially support the oil companies, "especially the largest "Rosneft", that would help it to stabilize the production".

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