Russia Ukraine war, page-36635

Russia Adds $9.4 Billion Of Oil Revenue To Its Rainy-Day Fund

Jun 09, 2022, 11:00 AM CDT

• Russia adds almost $10 billion to rainy day fund.
• Russian oil and gas revenues, however, continue to flow and exceed earlier budget projections.
• Russia expects to receive as much as $6.37 billion in additional oil and gas revenues in June.

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Russia said on Thursday it had added the equivalent of $9.4 billion to its government emergency reserve fund, with the money coming from extra oil and gas revenues the country has received so far in 2022.
The Russian government can easily tap the rainy-day fund and has been actively doing so since the invasion of Ukraine and the Western sanctions that have crippled the Russian economy and sent inflation to double-digits and the highest reading in over two decades.
Russian oil and gas revenues, however, continue to flow and exceed earlier budget projections, because the war in Ukraine sent oil and gas prices soaring.


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