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Russia Says Nations Benefiting From Cheap Oil Should Not Relax Reforms

A worker walks along tanker wagons at a refinery plant outside Ufa, Bashkortostan.

ISTANBUL — Countries benefiting from cheaper global oil prices must not be tempted to relax their structural reform programs, Russian Finance Minister Anton Siluanov said Tuesday on the sidelines of a meeting of G20 finance chiefs.

"The oil price is low. The main thing is not to relax in implementing structural measures. There's this free for all and it won't necessarily last forever and in these conditions it's important not to forget institutional reforms that were previously started," he told reporters.

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