Russia Sees $140 Billion Annual Loss From Oil, Sanctions

Russia stands to lose as much as $140 billion a year as a result of lower oil prices and U.S. and European sanctions, Finance Minister Anton Siluanov said, underlining the risks of a prolonged stalemate over Ukraine.

“We’ve seen a contraction of capital inflows into the country,” Siluanov said today at conference in Moscow. “We’re losing about $40 billion a year because of geopolitical sanctions, and we’re losing about about $90 billion to $100 billion on the basis of a 30 percent decline in oil prices.”