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The Euromoney magazine has named Russia’s Finance Minister Alexei Kudrin the best Finance Minister in 2010. He was awarded during the autumn session of the International Monetary Fund and World Bank in Washington, according to foreign media reports.

Speaking before the award presentation, Padraic Fallon, Chairman of Euromoney, announced, that the magazine praised Mr.Kudrin’s efforts to reserve the windfall that Russia had made from its oil boom in the form of the stabilization fund, which enabled Russia to emerge from the global financial crisis in a much better shape than most of the experts had expected.

“Mr.Kudrin was recognized as the highest class finance manager not only by the West, but also by Russia, the country which always treats reformers insufficiently warm,” noted Fallon.

He also emphasized, that while establishing the stabilization fund the head of Finance Ministry had to withstand huge political pressure which was, finally, successfully deterred.

Previously, in 2005, Mr. Kudrin was already recognized as the Finance Minister of the year by the Banker magazine, which forms part of the Financial Times Group.

The minister told correspondents, that the obtained award seems more precious to him, because it was handed after the crisis. “Russia has already passed through this lesson, it could get ready and pass through this period. In this context, this is a result. And when you see your result, you feel satisfied. But when the result is praised by professional community, it is especially important,” noted Kudrin.