The Minister of Finance of the USA declared about the benefits of cheap oil


Moscow. December 25. Cheap oil ultimately has a positive impact on the U.S. economy, said the Minister of Finance Jacob Lew in an interview with Fox Business Network.

He believes that “the US housing market may demonstrate unexpected growth due to the large pent-up demand”.

“American companies should be wary of doing business in Iran after the lifting of nuclear sanctions, as other constraints, in particular related to terrorism, remain in force,” – said the Minister.

He noted that the U.S. and the international community continue to fight the financing of terrorism. According to him, there is a great progress in reducing oil revenue by Islamic state (banned in Russia as a terrorist organization).

Lew also said that Puerto Rico is “in default”, may skip a number of coupon payments and requires the adoption by Congress of laws on restructuring.

The Commonwealth of Puerto Rico is located on the eponymous island in the Caribbean sea and is free Association with the U.S. government, effectively controlled by Washington. The island has a population of 3.5 million people.

In contrast to US cities, States and other territories, including Puerto Rico, are not eligible to declare bankruptcy – only about the default.

In August, the State development Bank (GDB) of Puerto Rico has announced the default on the national debt, which was the first for 117 years free Association of countries with the United States.