Russia increases spending fund to ensure economic stability

The Russian government said Sunday that it has raised its reserve fund by 273.4 billion rubles (3.4 billion U.S. dollars) to ensure economic stability in the face of external sanctions.

The largest source of the increase, or 271.6 billion rubles, was additional oil and gas revenues received in the first quarter of 2022, the government said in a statement.

Russia's reserve fund was created to finance unforeseen expenses and significant measures not covered by the federal budget.