Oil price growth helps Russia fight econ crisis - Kudrin

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UNITED NATIONS, June 25 (Itar-Tass) - The growth of oil prices helps
Russia fight the economic crisis, RF Vice Prime Minister and Finance
Minister Alexei Kudrin told Russian journalists on Wednesday. He is taking
part here in the Conference on the World Financial and Economic Crisis and
its Impact on Development that is held within the framework of the UN
General Assembly.
"Oil prices will really give us additional revenues. So far they are
not big, because the volume of supplies, taking into account the world
market demand, is slightly lower than before. But on the whole this helps
us fight the crisis," the minister said.
However, the RF vice prime minister noted, Russia "so far does not
expect these prices to be so stable." "We realise so far that they are
somewhat speculative and we cannot be guided by these prices as a
long-term trend that will always be saving us," Kudrin said.
At present the RF government "is oriented towards more moderate oil
prices - about 50-52 US dollars (a barrel) both this year and next," the
Russian finance minister noted.
According to a UN press release, the United Nations is convening a
three-day summit of world leaders from 24 to 26 June 2009 at its New York
Headquarters to assess the worst global economic downturn since the Great
Depression. The aim is to identify emergency and long-term responses to
mitigate the impact of the crisis, especially on vulnerable populations,
and initiate a needed dialogue on the transformation of the international
financial architecture, taking into account the needs and concerns of all
Member States.
The United Nations summit of world leaders in June was mandated at the
Follow-up International Conference on Financing for Development, held in
December 2008 in Doha, Qatar. Member States requested the General Assembly
President Miguel d'Escoto Brockmann to organize the meeting "at the
highest level."
As high-level delegates from around the globe gathered in New York
Wednesday to discuss how to address the economic meltdown while taking the
interests of all nations into account, top United Nations officials issued
urgent calls for action to ease the burden on the world's poorest, says
the UN release.
"At this critical moment, we must all join our efforts to prevent the
global crisis, with its myriad faces, from turning into a social,
environmental and humanitarian tragedy," General Assembly President Miguel
D'Escoto said at the start of the Conference on the World Financial and
Economic Crisis and Its Impact on Development.
"At this critical moment, we must all join our efforts to prevent the
global crisis, with its myriad faces, from turning into a social,
environmental and humanitarian tragedy," he noted. He called for a
solution to the current turmoil that will not leave "the vast majority of
humanity to their fate," exhorting the representatives from nearly 150
Member States expected to address the three-day gathering to "take
decisions that affect us all collectively to the greatest extent possible."
For his part, Secretary-General Ban Ki-moon underscored that the
current crisis is "not a cause for any one person, nation or group of
nations. It is a challenge for us all." Despite signs of financial
stabilization and growth in some pockets of the world, he said that "the
real impact of the crisis could stretch for years."
A multi-pronged approach is needed to stem the catastrophe, Mr. Ban
said, that incorporates boosting access to education, promoting 'green'
growth, helping subsistence farmers and increasing resources to fight
diseases such as AIDS and tuberculosis, according to the release. "The
world institutions created generations ago must be made more accountable,
more representative and more effective," he pointed out, voicing regret
that reforming financial institutions has divided Member States.
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