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Russian officials against Stabilization Fund's conversion
RBC, 13.11.2007, Moscow 12:59:50.Russian Deputy Finance Minster Sergei Storchak has commented on the Bank of Russia's suggestion to convert Stabilization Fund's resources on the currency market by saying that he was against the idea. He explained that Pyotr Kazakevich, a deputy department head at the Finance Ministry, who was responsible for making these kinds of decisions, also disapproved of the idea, as it was impossible to predict the market's reaction to such great sums. However, Storchak pointed out that he insisted on retaining the conversion system that had been used for the past year and a half. Storchak also noted that the Russian Finance Ministry could become a major player on the currency market and its impact would be too strong.
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