Russia’s central bank doesn’t think that copying the Mexican oil hedge is a good idea, the Governor of Bank of Russia, Elvira Nabiullina said at a news conference on Friday, commenting on the idea that Russia could possibly insulate its budget from oil price crashes by adopting an oil hedging program. Earlier his week, Russian news agency Interfax reported that Russia was considering whether to adopt a kind of state oil hedging program, similar to Mexico’s oil hedge, to protect government revenues from oil price crashes in the future. The Mexican oil hedge , or the Hacienda Hedge, is considered the biggest hedging bet on Wall Street as well as perhaps the most secretive. Such hedges minimize the losses in case oil prices crash. Earlier this year, it was the oil hedge that is thought to have saved Mexico’s economy from ruin. Now Russia is weighing an oil hedge, […]