Source Pravda.Ru

Russia 'rainy day' fund to reach $36 billion by year-end

Russia's 'rainy day' fund collected from taxes on windfall oil profits is set to reach one trillion rubles ($36.3 billion, EUR27.5 billion) by the end of the year, a senior Cabinet member said Tuesday.

Deputy Prime Minister Alexander Zhukov said the fund had already accumulated 700 million rubles ($25.4 million, EUR19.3 billion), the Interfax news agency reported.

The stabilization fund, which the government has been using to pay down Russia's foreign debts early, was created to insulate the nation against oil price fluctuations.

Russia, the world's second largest oil exporter after Saudi Arabia, has seen its state coffers boosted by record world crude prices, which have been above $50 a barrel for weeks.

Zhukov said that the fund would hit a trillion rubles even if oil prices fell below $36 a barrel in 2005.

Associated Press

He announced his intention to create a news service called "Pravda," which means "truth" in Russian. Well, we are Pravda. The Pravda.Ru website has been working professionally in Russia since 1999

Elon Musk wants Pravda, but we already have it

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

World leaders unite with Russia at St. Petersburg International Economic Forum
Comments
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
German expert explains why European Union and Russia develop ties speedily
Iran nuclear deal will change the world as Trump wants
What would you do if you were Kim Jong-un?
How low will America go?
Blame MH17 on Russia: International investigation turns into demonic circus
What would you do if you were Kim Jong-un?
What would you do if you were Kim Jong-un?
How low will America go?
How low will America go?
What would you do if you were Kim Jong-un?
What would you do if you were Kim Jong-un?
German expert explains why European Union and Russia develop ties speedily
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus
Blame MH17 on Russia: International investigation turns into demonic circus