UPDATE 1-Russia puts losses from sanctions, sliding oil at up to $140 bln/year
Nov 24 (Reuters) - A slump in oil prices and Western sanctions over the Ukraine crisis are costing Russia up to $140 billion a year, Finance Minister Anton Siluanov said on Monday.
"We're losing around $40 billion a year because of geopolitical sanctions, and about $90 billion to $100 billion from oil prices falling by 30 percent," Siluanov told a news conference.
"The main issue that affects the budget and economy and financial system: this is the price of oil and the fall in monetary flows from the sale of energy resources."
The price of oil has fallen to around $80 per barrel from nearly $115 per barrel in June. Oil and gas account for around two-thirds of Russia's export earnings.
http://uk.reuters.com/article/2014/11/24/russia-economy-oil-sanctions-idUKL6N0TE14C20141124?rpc=401