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Russia Should Prepare Budget Rules So Reserves Rise With Oil Price

Russia should prepare new budget rules which will allow the country to increase its fiscal reserves when oil prices are over $50-$60 per barrel, Finance Minister Anton Siluanov said Wednesday.

"We should prepare new budget rules which would allow us to balance the budget under new price categories and send [money] to our reserves, without spending windfall income when the oil price is above $50-$60 a barrel," Siluanov said.

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