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Russian budget to have $129.8 bln of revenues at $70/bbl oil price — Finance Minister

The situation is challenging at present from the standpoint of interests of buyers and sellers in the oil market, Anton Siluanov added

MOSCOW, October 24. /TASS/. The Russian budget will receive more than eight trillion rubles ($129.8 bln) of oil and gas revenues even against the provided conservative oil price, Finance Minister Anton Siluanov said in an interview with RBC.

"As regards the Russian Federation, we provided fairly conservative parameters. According to our forecast, the oil price is $70 per barrel, the [exchange] rate is 68 rubles per dollar, and the production volume is about ten million barrels daily. Nevertheless, we plan to receive the amount of oil and gas revenues above eight trillion rubles even at such prices. That is, there is a certain gap provided, which is an extra reserve of the budget," Siluanov said.

The situation is challenging at present from the standpoint of interests of buyers and sellers in the oil market, the Minister added.

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