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MOSCOW, September 6 (RIA Novosti) – A foreign military operation in Syria could lead to a rise in oil prices, which would on the whole have a negative effect on global economic growth, the head of one of Russia’s biggest banks, VTB, said Friday.
“Oil prices may rocket, which could bring Russia some short-term profit, but it would certainly be bad from the perspective of global growth,” VTB head Andrei Kostin told journalists.
Russia's economy is highly dependent on oil prices.
Kostin said that certain countries, including the United States, had earlier been able to positively develop at the expense of war, but he added that wars had mostly brought ruin and economic destabilization to the global economy.
“We would get in Syria the same that we have in Egypt or Libya – another country with political instability that can’t be settled,” Kostin said.
The unrest in Syria began in March 2011 and later escalated into a civil war. More than 100,000 people have been killed in the conflict so far, according to United Nations estimates.
The US Senate Foreign Relations Committee voted Wednesday to give US President Obama the authority to use military force against the government of Syrian President Bashar Assad in response to an alleged chemical weapons attack last month.
Russia has urged all sides in the Syrian civil war to use diplomatic means to end it.
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Russia has surged ahead on the foreign policy stage, but this is not enough to remain a great power. The tough-minded policies and masterful diplomacy of Russia’s leadership have maximized the country’s position in the world, and are now the main source of its international influence and prestige. Russia’s foreign policy in the next decade depends entirely on what happens at home.