Russian Ministry of Finance to Transfer 900 Billion Rubles to Reserve Fund
2012 has come to a close; Russia is preparing to fill up its reserve fund, the initial sovereign wealth fund of Russia. Created in 2004, the reserve fund assists in fiscal budget stabilization if global oil prices decrease at a certain price level. The reserve fund invests in conservative fixed income securities, typically low-yield and highly liquid.
The Russian Ministry of Finance plans to move 900 billion rubles (US$ 30 billion) of oil and gas surplus revenue into the reserve fund. Oil and gas surplus flows will continue to flow into the reserve fund until it reaches 7% of gross domestic product or there is a legal change.
Size of Reserve Fund in Billions USD – Click on graph to see full sizeTweet
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