The decline in global oil prices will have a greater negative effect on the Russian Federation, rather than imposed against the country of punishment from the Western countries, said BP CEO Robert Dudley.

Since the beginning of July, the price of North sea petroleum mix of mark Brent fell by 27%. The price for oil (WTI) for the period From January of this year decreased by 16% while increasing production of shale oil in the United States.

" Lower prices will hit Russia harder than punishment, " said Dudley Symposium on Oil

sections: Politics