MOSCOW (Reuters) – Russia could make asset purchases under its budget rule next year, when oil prices are above the base level, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Tuesday.
Siluanov said the ministry would decide if these purchases would be carried out in roubles or currencies of “friendly” countries, those that have not targeted Moscow with sanctions over Ukraine.
The budget rule dictates how much of Russia’s revenues from oil and gas exports are used for day-to-day government spending and how much is diverted into the government’s sovereign wealth fund. Designed to smooth boom-and-bust periods, it was suspended earlier this year due to Russia’s new financial situation.
(Reporting by Reuters; Editing by Alex Richardson)
