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Became known proponent of freezing oil

Стал известен инициатор заморозки нефтедобычи

The initiator of the freezing of world oil production was made by Venezuela.

About this informed the Deputy head of the Ministry of energy of Russia Anatoly Yanovsky on Saturday, February 20. According to Yanovsky, Venezuela has decided to take this step due to the fact that suffered from reduction in oil prices, which have been observed in the last few months.

We will remind, earlier the President of Venezuela, Nicolas Maduro, made the decision to devalue the Bolivar, the national currency of the country, at 37 percent, and increase gasoline prices in the country in 62 times. Also, the country will operate two of the exchange rate, instead of three.

Maduro stressed that these measures are necessary in order to cope with the imbalance in the economy of Venezuela.

Note that the budget of Venezuela almost 96% dependent on oil exports. The income of the Central Bank of Venezuela on the sale of oil has plummeted: according to Maduro, in January 2016, the Central Bank of the country got from the oil state-owned just $ 77 million, whereas a year ago, in January 2015, revenues of the budget of Venezuela from nefteprodukti amounted to approximately 815 million dollars, and in 2014 – 3 billion dollars.

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