The fall in global oil prices over the past month is a positive factor for Ukraine, Arseniy Yatseniuk has said.
“The positive [factor] is that the price of Brent oil is $43 [per barrel]… It is positive for Ukraine that oil prices are falling,” he said while opening a cabinet meeting in Kyiv on Aug.26.
Yatseniuk said that if the fall in prices continues, this would allow Ukraine to buy natural gas at a lower price and would result in the prices of mineral fertilizers also falling.
He said that prices on the global market for key types of agricultural products are fairly stable.
“This means that by the end of this year we are to additionally receive around $4 billion in currency proceeds,” he said.
He also said that the fall in global oil price has caused a devaluation of the Russian ruble and has seriously affected financial stability in adjacent markets.
“I would like to ask that we hold all consultations, including with our international partners, what scenarios could be and how we look like on the global economic map,” Yatseniuk said.
