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Russia's oil and gas revenues will fall to 13% of gross domestic product (GDP) in 2020 from 17% of GDP in 2009, Finance Minister Alexei Kudrin said on Thursday.
"Income from the oil and gas sector amounted to 17% of GDP in 2009, while in 2020 they will only be 13% of GDP meaning the sector will shrink and will not produce the same amount of GDP income," Kudrin told the Audit Chamber.
Oil and gas output is falling and is not expected to grow insignificantly, he said.
MOSCOW, December 9 (RIA Novosti)
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Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.