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    Russia Not Planning to Dip Into Reserve Fund in 2015: Finance Minister

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    Russian authorities have no plans of using resources from the Reserve Fund in 2015, but still retains the right, Russian Finance Minister Anton Siluanov said Thursday.

    Updated 12:19 p.m. Moscow Time

    MOSCOW, October 2 (RIA Novosti) – Russian authorities have no plans of using resources from the Reserve Fund in 2015, but still retain the right, Russian Finance Minister Anton Siluanov said Thursday.

    "We don't foresee using resources from the Reserve Fund in next year's budget, but we will retain the right for this," Siluanov said during the Russia Calling forum in Moscow.

    As of 1 September 2014, the Reserve Fund holds an equivalent of $91.72 billion.

    Earlier this month, the Russian finance chief confessed that the Kremlin would consider tapping the Reserve Fund only in case of a marked decline in oil prices. Siluanov said these funds could be used if oil prices dropped to $80-90 per barrel of crude.

    He also said the ministry did not plan any cash injections in the Reserve Fund by the end of 2014, adding chances for allocations in 2015 were just as slim.

    The announcements came after Russian Deputy Finance Minister Tatiana Nesterenko said in July the fund would be swelled in 2014 by an additional 100-120 billion rubles (about $2.5-3 billion).

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    reserves, economy, Anton Siluanov
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