Russia Drops Budget Cut Plans as Oil Price Surge Boosts Revenues – Bloomberg

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NEWS SUMMARY

Russia has reportedly dropped budget cut plans due to a surge in oil prices, which has boosted government revenues. This increased revenue could potentially be allocated by authorities towards funding the ongoing war in Ukraine.

Based on initial report · will update when full text is available

Full BriefGenerated 0m ago

Authorities could channel the windfall oil revenues into spending on the war in Ukraine, Bloomberg’s sources said.

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