Russia expects $14 Billion in additional Oil and Gas Revenues this year

Russia expects to receive one trillion rubles in additional oil and gas revenues this year, the Russian finance minister said, adding that part of the unexpected revenue will be spent on Moscow's offensive in Ukraine.

"We expect to receive up to one trillion rubles (.4 billion) in additional oil and gas revenues, according to a forecast we developed with the Ministry of Economic Development," Finance Minister Anton Siluanov said in a commentary on state television.

Siluanov said the government plans to spend the extra revenue this year, not save it. He said the money would be spent on "additional payments" to pensioners and families with children and on conducting the "special operation" in Ukraine, referencing Moscow's offensive in the pro-Western country.

"There are funds for that," Siluanov added.

The West has imposed unprecedented sanctions against Moscow to punish the Kremlin for sending troops to Ukraine on February 24 but has not affected Russia's oil and gas supplies.

Recently, President Vladimir Putin mocked the sanctions, saying Europe's "chaotic actions" had led to an increase in oil and gas revenues for Russia.

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