Russia’s Oil Industry Depleted Sources of Growth — Official

Russia’s oil industry has depleted its reserve for growth, Deputy Economy Minister Andrei Sharonovsaid told members of the Russian parliament on Wednesday, Sept. 14.

Sharonov said that in 2006-2008 oil production in Russia will grow by no more than two percent, while exports will grow by no more than three percent. Because of this, the growth of Russia’s economy won’t exceed 5-6 percent, Sharonov was quoted by RIA Novosti.