Oil and gas revenues 7.5 bln rubles below expectations for Russian budget

The total deviation of actually received oil and gas revenues from the expected monthly volume and the estimate of the base monthly volume at the end of October 2022 was minus 7.5 billion rubles, the Russian Finance Ministry said on Thursday.

The expected amount of additional oil and gas revenues for the federal budget, as associated with the excess of the actual oil price over the base level, is projected at 282.8 billion rubles for November. Consequently, the total amount of funds for additional oil and gas revenues is 275.2 billion rubles when accounting for the negative deviation in October.

There will not be any purchases of foreign currency and gold because of certain provisions being suspended for 2022 regarding the fiscal budget rules as related to using the additional oil and gas revenues from the federal budget, the Finance Ministry recalled.