Russian President Vladimir Putin signed the law stipulating that the country’s oil and natural gas revenues will be calculated based on the base oil price of $60 per barrel when creating the budget. writes about this TASS.
That is, the budget rule will return to the previous calculation parameters: additional revenues from oil sales above the base price of $ 60 per barrel will be directed to the National Welfare Fund. If prices fall below this level, the lost income will be compensated from the fund.
This year, this mechanism worked differently. Russian authorities accepted 8 trillion rubles, the nominal value of this year’s oil and gas revenues, as a “cut”. As explained by the head of the Russian Ministry of Finance Anton Siluanov, the calculations were based on the same oil price of $ 60 per barrel. The Ministry of Finance proposed returning to the previous calculation method on September 22 of this year.
Federation Council approved On October 25, amendments were made to the Russian Budget Code, which provides for the calculation of the budget rule at the base oil price of $ 60 per barrel.
Previously government guess Decrease in the volume of oil production in Russia.