Russian Finance Minister Says Soaring Oil Prices Push Up Inflation

Russian Finance Minister Alexei Kudrin said on Wednesday, May 17, that Russian inflation is closely tied to global oil prices and expressed hope that annual inflation in 2006 will stay within 9 percent limit as long as the price of Russian crude does not rise above $65 per barrel.

Giving an interview to the Russian Prime-Tass news agency, Kudrin said that “reached 9 percent becomes more complex” with a substantial increase in price of Russian oil.

Mosnews