Japan finance minister: hope Russia to prevent recurrence of 1998 crisis

[TOKYO] Japanese Finance Minister Taro Aso said on Friday he expects the Russian government will prevent falls in its currency from leading to the kind of financial crisis seen in 1998.

Speaking to reporters after a regular cabinet meeting, Mr Aso also said that oil prices have fallen a lot but are still high compared with in the past. "I can only say that I imagine the Russian government will deal with it so that it won't lead to turmoil as seen in 1998," Mr Aso said, when asked about sharp falls in the rouble and the impact on markets.

REUTERS