Russian Budget to Get Extra $996.2 Mln of Oil Revenues in January

The Russian budget can receive extra 73.5 bln rubles ($996.2 mln) of oil and gas revenues in January, the Finance Ministry says on its website on Wednesday, TASS writes.

“The expected amount of extra oil and gas revenues of the federal budget related to actual oil price overrunning the baseline level is expected in January 2021 in the amount of 73.5 bln rubles. The overall deviation of actually received oil and gas revenues from the expected monthly figure of oil and gas revenues and the estimate of the baseline monthly volume of oil and gas revenues from the baseline monthly amount of oil and gas revenues totaled 32.7 bln rubles ($443.2 mln) as of the end of December 2020,” the ministry said.

The Finance Ministry will allocate 106.3 bln rubles ($1.44 bln) daily for foreign currency purchases from January 15 to February 4. Daily foreign exchange purchases will be the equivalent of 7.1 bln rubles ($96.2 mln).

It was reported earlier that the Finance Ministry would allocate 50.8 bln rubles ($689.3 mln) from December 7, 2020 to January 14, 2021.