MOSCOW, March 29 (RIA Novosti) - Russia's finance minister said Wednesday the Central Bank will have to keep tight control of the amount of money in the country's economy to keep inflation down if oil prices remain high.

Alexei Kudrin told a roundtable at Moscow's Higher School of Economics that the Central Bank would have to absorb an additional 82 billion rubles (about $2.9 billion) at oil prices of $40 per barrel, and an extra 226 billion rubles (about $8.1 billion) at $60 per barrel.

He added it would be the largest anti-inflationary effort undertaken by the bank in recent years, and warned that "experts say the [oil] price could be higher."

Kudrin said the monetary authorities would have to soak up 975 billion rubles (about $35 billion) at $40 per barrel and 2,145 billion rubles (about $77 billion) under the government-endorsed monetary program for 2006.

If oil hits $80 or $100 per barrel, the Central Bank would have to absorb larger amounts, Kudrin said, adding that the Bank would have difficulties as its instruments are weaker than government measures.

Kudrin said the government should always keep inflation within projected targets and maintain the ruble rate as basic business terms.

He also said the growth of prices for natural monopoly services and in the housing and utilities sector would not affect inflation, if surplus money were withdrawn from the economy.