Surplus oil and gas export revenue will not go to the National Wealth Fund Russia’s National Wealth Fund (NWF) will not be replenished with additional revenue from oil and gas exports this year, the Accounts Chamber announced on Thursday. In its report on the management of the NWF in 2022 and the first half of 2023, the Accounts Chamber explains that the government has had to increase spending to support the economy amid “geopolitical and sanctions pressure” and cites last year’s suspension of fiscal regulations that required oil and gas revenue – above a certain threshold – to be deposited in the sovereign fund.
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