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The President made changes to the Budgetary Code, stipulating an increase in the base price for Urals crude oil which regulates the Stabilization Fund's growth and defines the instances in which its means can be used

October 13, 2005

Vladimir Putin signed the relevant federal law.

It is foreseen to increase the base price from 146 USD per tonne (20 USD per barrel) to 197,1 USD per tonne (27 USD per barrel).

The federal law will create financial conditions permitting increased budgetary expenditures and, in the medium-term, more active and flexible budgetary policies. Macroeconomic stability, equilibrium and the soundness of the federal budget will unconditionally be maintained.

October 13, 2005

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Official website of the President of Russia

The President made changes to the Budgetary Code, stipulating an increase in the base price for Urals crude oil which regulates the Stabilization Fund's growth and defines the instances in which its means can be used