30 May 2022 11:49

Russian MinFin expects up to 1 trln rubles in extra oil, gas revenue in 2022

MOSCOW. May 30 (Interfax) - Russia's federal budget will take in up to 1 trillion rubles of additional oil and gas revenue in 2022, the Finance Ministry estimated.

"We estimate receiving up to 1 trillion rubles of additional oil and gas revenues based on the forecast that we compiled with the Economic Development Ministry," Finance Minister Anton Siluanov said in an interview with Nailya Asker-Zade on TV channel Rossiya 24.

He recalled that this year additional oil and gas revenues are going towards expenditures, not into the National Welfare Fund (NWF).

"All of this money that is coming in from oil and gas, while before we partly directed it into the reserve, this year it is all going toward expenditures. This is the money that will go toward additional payments to pensioners, additional payments to families with children, toward conducting the special operation. So we have the resources for this. And this is, among other things, additional oil and gas revenue," Siluanov said.