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WorldPosted at: Jan 13 2021 2:55PM


Russian Finance Ministry to resume buying foreign currency on oil revenue expectation

Moscow, Jan 13 (Sputnik) The Russian Finance Ministry said Wednesday it would resume buying foreign currency with surplus revenue from oil and gas sales on January 15 after a nine-month pause.
The finance ministry usually buys foreign currency when oil prices, and, therefore, federal budget revenues are higher than expected. The foreign currency is accumulated in an account in the Central Bank and then transferred to the National Wealth Fund. Since March 2020, which saw plunge of oil prices and coronavirus lockdowns, the Russian Foreign Ministry has been selling foreign currency instead.
The federal budget is expected to receive additional 73.5 billion rubles (
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