  In this Letter we report the first LDA+DMFT (method combining Local Density
Approximation with Dynamical Mean-Field Theory) results of magnetic and
spectral properties calculation for paramagnetic phases of FeO at ambient and
high pressures (HP). At ambient pressure (AP) calculation gave FeO as a Mott
insulator with Fe 3$d$-shell in high-spin state. Calculated spectral functions
are in a good agreement with experimental PES and IPES data. Experimentally
observed metal-insulator transition at high pressure is successfully reproduced
in calculations. In contrast to MnO and Fe$_2$O$_3$ ($d^5$ configuration) where
metal-insulator transition is accompanied by high-spin to low-spin transition,
in FeO ($d^6$ configuration) average value of magnetic moment
$\sqrt{<\mu_z^2>}$ is nearly the same in the insulating phase at AP and
metallic phase at HP in agreement with X-Ray spectroscopy data (Phys. Rev.
Lett. {\bf83}, 4101 (1999)). The metal-insulator transition is orbital
selective with only $t_{2g}$ orbitals demonstrating spectral function typical
for strongly correlated metal (well pronounced Hubbard bands and narrow
quasiparticle peak) while $e_g$ states remain insulating.
