The international demand for oil was expected to fall even further in 2009, which will have a negative impact on Russia's economy, the country's Finance Minister Alexei Kudrin said here at a forum on Monday.

Kudrin said he expected the previous forecast by the International Energy Agency that the 2009 international oil prices will be slightly above US$40 a barrel to be adjusted downward, based on the latest global economic statistics.

Addressing the Asian Financial Forum in Hong Kong, Kudrin said the expected fall in international oil prices will have an impact on the Russian economy, which has 20 percent of its gross domestic product (GDP) in oil-related industries.

Kudrin said Russian economic growth may slow down to between 0 and 2 percent in 2009, compared with a real growth of 6 percent in 2008.

(Xinhua News Agency January 20, 2009)