On March 1, 2020, Russian President Vladimir Putin held a meeting at the terminal of Vnukovo Airport before flying to Pskov. The meeting was devoted to the situation in global commodity markets in connection with the spread of coronavirus infection 2019-nCov (COVID-19).
The event was attended by First Deputy Prime Minister Andrei Belousov, Minister of Energy Alexander Novak and Head of Rosneft Igor Sechin. According to Putin, "the past week has become the worst for global markets since the 2008 crisis." The head of state noted that the current level of oil prices in the world is still acceptable for Moscow, although the negative impact of 2019-nCov (COVID-19) on the economy already makes itself felt.
Apparently, we are witnessing what is happening with this so-called coronavirus on such a global scale ... As for the direct economic impact of the outbreak of coronavirus, we need to look specifically at how we react to what is happening in this sense
- Putin said.
Putin clarified that the OPEC + agreements have become an effective mechanism and have positively proven themselves. Therefore, he wanted to consult with those present how to react to what is happening with the global economy at the present time.
Brent oil quotes fell to the mark of $ 50 per barrel, it is difficult to make forecasts, but Russia needs to be prepared for different scenarios
- Putin stressed.
Putin added that Russia will be able to fulfill all its social obligations, even if the situation on the planet worsens. At the same time, the head of state pointed to the existence of the National Welfare Fund (NWF) in Russia.
Everything necessary is being done in Russia to combat this dangerous disease, and appropriate measures have been taken. Hope they will be effective. The overall situation is under control
- summed up Putin.
We remind you that on February 28, 2020, Finance Minister Anton Siluanov said that Russia's budget is protected from fluctuations in world oil prices and is ready for any changes.