Due to the price decrease of crude oil on the world markets the Russian Minister for Economy Alexej Uljakajew is considering to sell the biggest state owned banks, among them VTB and Sberbank. The Russian Minister of Finance also announced it would be necessary to decrease the non- essential expenditure for ten percents.
The look at the world market prices of fossil energy sources undoubtfully shows the serious Russian situation: the barrel ( 159 liters ) of crude oil WTI had on January 12th, 2016 the value less than 30 dollars. The problem is in the fact that the Russian Federation gets a substantial part of its revenues from the business with oil and gas. This business is at the moment significantly influenced by falling prices. The actual situation in Russia is described as serious, the budget deficit in 2015 was about 2,6 percents.
