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Russian budget to receive $2.8 bln worth of additional oil and gas revenues in September

Daily purchases of foreign currency and gold under the fiscal rule will equal 13.15 bln rubles ($135 mln) from September 7 to October 5, 2023

MOSCOW, September 5. /TASS/. Russia’s federal budget is expected to receive 279.12 bln rubles ($2.8 bln) worth of additional oil and gas revenues in September, the Finance Ministry said in a statement on Friday.

"Additional oil and gas revenues of the federal budget are projected at 279.12 bln rubles in September 2023. The aggregate deviation of virtual oil and gas revenues from the expected monthly amount of oil and gas revenues amounted to -2.96 bln rubles in August 2023," the statement said.

Daily purchases of foreign currency and gold under the fiscal rule will equal 13.15 bln rubles ($135 mln) from September 7 to October 5, 2023, the ministry noted.

"Consequently, the total amount of funds allocated for purchases of foreign currency and gold will equal 276.16 bln rubles. Transactions will be carried out from September 7, 2023 to October 5, 2023, with daily purchases of foreign currency and gold equaling 13.15 bln rubles," the ministry said.

The Russian Finance Ministry resumed FX sell operations in the domestic FX market under the new fiscal rule mechanism on January 13, 2023. Purchase and sales transactions of foreign currency are carried out by the Bank of Russia on the domestic market in the currency section of Moscow Exchange in the ‘Chinese yuan-ruble’ instrument.