Politics · Russia · 13 hrs ago
Russia lowers budget oil-price assumption to $50 a barrel for three years
Russia’s Finance Minister, Anton Siluanov, said the country’s budget is designed to cope with different conditions in global markets and the world economy.
He made the remarks to a State Duma committee responsible for the budget and taxes.
The budget assumes an oil price of $50 per barrel when planning federal spending for each of the next three years.
That is lower than this year’s assumption of $59 per barrel.
Oil prices matter to Russia’s budget planning, and the lower assumption is intended to help the budget withstand changing market conditions.
Siluanov did not describe specific next steps.
Russia lowered its base crude oil price assumption for federal budget spending to $50 per barrel for each of the next three years.
The previous assumption was $59 per barrel for this year.
Finance Minister Anton Siluanov said the budget was prepared to withstand scenarios in international markets and the world economy.
He announced the change at a State Duma budget and taxes committee meeting.
- Who
- Finance Minister Anton Siluanov announced the change.
- What
- Russia lowered its base crude oil price assumption for federal budget spending to $50 per barrel for all three years of the financial plan.
- When
- October 12, 2026.
- Where
- At the State Duma budget and taxes committee in Moscow.
- Why
- Siluanov said the budget was prepared to address any scenario in international markets and the world economy.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- New oil-price assumption
- $50 per barrel for all three years of the financial plan
- Previous oil-price assumption
- $59 per barrel this year
- Announcement date
- October 12, 2026
- Announced by
- Finance Minister Anton Siluanov
- Location
- State Duma budget and taxes committee, Moscow
What people are saying
The budget was prepared with consideration of resilience to any situation development scenarios in international market and the world economy
To this end, we lowered the base crude oil price to account for federal budget expenditures from $59 [per barrel] this year to $50 [per barrel] during all three years of the financial plan
Sources
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