Energy Update

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Environmental regulation has certainly played an important role in the development of clean renewable energy and energy efficiency technologies, manufacturing/operating systems and designs. It is important, however, to consider whether or not environmental regulation is in fact an acceptable substitute for a targeted national energy policy.

ST PETERSBURG, Russia, June 16 (Reuters) - Russian Finance
Minister Anton Siluanov said on Thursday his ministry will need
to increase the volume of borrowing even while cutting the
country's budget deficit.

ST PETERSBURG, Russia, June 16 (Reuters) - Russia's central
bank is determined to meet its inflation target and will have to
keep interest rates high unless the government cuts its budget
deficit, Governor Elvira Nabiullina said at the St Petersburg
International Economic Forum on Thursday.

* U.S. crude stocks fall less than expected

(Updates throughout, changes dateline, previous TOKYO)

ERBIL, Iraq, June 15 (Reuters) - Once Islamic State is
defeated, Iraq should be divided into three separate entities to
prevent further sectarian bloodshed, with a state each given to
Shi'ite Muslims, Sunnis and Kurds, a top Kurdish official said
on Thursday.

ST PETERSBURG, Russia, June 16 (Reuters) - Russia's finance
ministry aims to cut the country's budget deficit by one
percentage point per a year over the next three years, Finance
Minister Anton Siluanov said at the St Petersburg International
Economic Forum on Thursday.

TORONTO, June 16 (Reuters) - Spending on clean energy
projects in Canada fell 16 percent in 2015 compared with the
record investments of the prior year and a renewed push to cut
emissions may not lead to a rebound until 2018, an advocacy
group said on Thursday.

ST PETERSBURG, Russia, June 16 (Reuters) - Russia's central
bank will keep rates high to meet its inflation target, Governor
Elvira Nabiullina said at the St Petersburg International
Economic Forum on Thursday.

ST PETERSBURG, Russia, June 16 (Reuters) - The tactical aim
of Russia's central bank is to clean the banking sector of weak
players, Governor Elvira Nabiullina said at the St Petersburg
International Economic Forum on Thursday.

DUBAI, June 16 (Reuters) - The United Arab Emirates'
involvement in more than a year of war in Yemen is "practically
over", a top diplomat was quoted as saying on Wednesday.

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