RA’s Daily Russia News Blast – Sept 16, 2014

The ruble hit a new record low against the dollar yesterday, of 38 rubles per dollar: partly due to a corresponding two-year low in oil prices, as well as a new round of Western sanctions against Russia. Thanks to Washington’s banning Western companies from working with Russia’s oil giants, Gazprom Neft may require alternative equipment providers in order to meet production targets at its Prirazlomnoye oil field in the Arctic. Western service firms Halliburton and Schlumberger are also likely to lose a combined $4 billion in revenue fro the restrictions. Prime Minister Dmitry Medvedev says the sanctions are a test of Russia’s strength, and urged officials ‘not to succumb to the temptation of easy solutions’. Finance Minister Anton Siluanov says Russia will create a multi-billion-dollar fund next year to support companies hit by sanctions; part of the money will come from the 100 billion rubles left over from this year’s budget. Crimea is seeking $2.1 billion from Moscow for new investment projects. Ksenia Batanova, the chief producer at independent and occasionally oppositionist television channel Dozhd (Rain), has been attacked and robbed near her apartment building.