Russia Anticipates $11 Billion Energy Revenue Boost Despite Embargos ...Middle East

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Russia Anticipates $11 Billion Energy Revenue Boost Despite Embargos
source : OILPRICE ( Middle East ) () 87
Russia is expecting extra oil and gas revenues to reach 1 trillion rubles, or $11 billion, in the last five months of the year despite sanctions, embargos, and price caps, two people with knowledge of the situation told Bloomberg.  The Finance Ministry hopes to put the fat revenues toward covering its budget deficit, which has bloomed thanks to the war in Ukraine, the anonymous sources suggest, although fiscal rules dictate that windfall revenues should be used to purchase foreign currency for the National Wellbeing Fund’s reserves. …

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