Bloomberg News

Russia Seeks to Link Budget Spedings Limit to Oil Prices:

March 23, 2012

Russia’s finance ministry proposes capping budget spending if the oil price from 2013 to 2016 is lower than certain thresholds, Interfax said, citing ministry documents.

Spending should be capped if oil prices slip below $97 per barrel in 2013, $95 per barrel in 2014, $92 per barrel in 2015 and $90 per barrel in 2016, the news service said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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