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Russia to suspend budget rules on oil and gas revenues – fin min

© Reuters. FILE PHOTO: Pedestrians walk past Russia’s Finance Ministry building in Moscow, Russia March 30, 2021. A sign reads: “Ministry of Finance of the Russian Federation”. REUTERS/Maxim Shemetov

MOSCOW (Reuters) – Russia is to suspend some budget rules relating to the use of extra oil and gas budget revenues in 2022, the finance ministry said in a statement on Wednesday.

Russia has a policy of replenishing its state reserves by buying foreign currency on the domestic market when oil prices are high, creating downside pressure on the rouble.

Russia to suspend budget rules on oil and gas revenues – fin min

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