Russia will create a multi-billion dollar anti-crisis fund in 2015 of money destined for the pension fund and some left over in this year's budget to help companies hit by sanctions, Finance Minister Anton Siluanov was quoted as saying Monday. Several waves of Western sanctions against Moscow for its involvement in the Ukraine crisis have limited access to foreign capital for Russia's largest banks and key oil companies.
Some companies have asked the government for help, including the country's top-oil producer Rosneft which said it would need 1.5 trillion rubles ($39.70 billion) in aid. Siluanov was quoted as saying by Russian news agencies that the decision to stop transferring money to the pension fund would hand the budget an extra 309 billion rubles ($8.18 billion).
He said not all of that sum would go into the anti-crisis fund, but that it would also receive at least 100 billion rubles of money left over in this year's budget.
INC News, 15/09/2014
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