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Russian deputy PM given new tasks for coordination of economy

FILE PHOTO: Deputy Prime Minister of Russia Alexander Novak at an OPEC+ meeting in Vienna

(Reuters) - Russian Deputy Prime Minister Alexander Novak, point man for the energy sector and negotiations with the OPEC+ grouping, has been given new responsibilities for coordinating the economy, according to a government announcement issued on Friday.

The announcement, posted on the government.ru website, gave a list of Novak's additional duties, including coordination of socio-economic policies, overseeing measures to offset Western sanctions, investment policy, support for small and medium-size businesses and a unified financial, credit and monetary policy.

Boris Belyakov, press secretary for Prime Minister Mikhail Mishustin, said the 52-year-old Novak, "given the tasks assigned to him and his managerial experience, skills and competencies, organises work at the highest level".

The announcement said Novak would be in charge of "developing a unified plan to achieve Russia's national development goals up to 2030 and forward to 2036".

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President Vladimir Putin earlier this week confirmed the composition of his government following his re-election in March for a new six-year term in office.

Novak has served as deputy prime minister since 2020 and had previously served as energy minister from 2012.

Novak is the public face of Russia in negotiations within OPEC+, which brings together member states of the Organisation of Petroleum Exporting Countries and other oil-producing countries. The group has coordinated and cut national production levels to prevent a glut on world markets.

(Reporting by Reuters; Editing by Sandra Maler)