Russia’s finance ministry said on Friday that it expects additional oil and gas income of 393 billion roubles ($6.35 billion) this month.
Due to higher-than-anticipated oil prices, the Russian budget is likely to record total additional receipts of 656.6 billion roubles in May-June, according to a statement.
The ministry stated that it does not intend to conduct market currency activities this year due to the temporary suspension of certain sections of the budget regulation.
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‘More discussions are required.’
More talks are needed to reach an agreement on allowing Russian exports as part of a planned agreement to resume Ukrainian food exports, according to the UN crisis coordinator for Ukraine.
“There was an agreement in principle from Russia that they would agree to it,” Amin Awad said in an online U.N. news briefing from Geneva. “However, there is more negotiation to be done to also… assist Russia’s exports.”
On Wednesday, United Nations Secretary-General Antonio Guterres expressed optimism that the food crisis in Ukraine would be alleviated, but cautioned that any agreement to unblock imports of commodities such as grain was still a long way off.
With rising prices for cereals, cooking oils, fuel, and fertiliser, the conflict has exacerbated a global food crisis. Russia and Ukraine produce roughly a third of the world’s wheat, and Russia is also a major fertiliser exporter, while Ukraine is a major corn and sunflower oil producer.
Grain supplies from Ukraine have halted since Russia’s Feb. 24 incursion, with Russia controlling or essentially blocking all Ukrainian Black Sea ports. Moscow has blamed Western sanctions for impeding grain and fertiliser exports.


















