Russia’s additional oil and gas revenues will fall short 113.6 billion rubles ($1.4 billion) below expectations in April, the Finance Ministry said Wednesday.
The difference between expected oil and gas revenues and those received as of March totaled 39 billion rubles ($490 million), it said.
To cover the expected shortage, Russia’s Finance Ministry uses a budget rule that diverts excess oil revenues into the National Wealth Fund and buys foreign currency to replenish state reserves.
The Finance Ministry said it will sell 74.6 billion rubles ($940 million) worth of foreign currency over the next month, or 3.7 billion rubles per day between April 7-May 5.
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