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21 Dec, 2006 10:45

Stabilisation fund gives Russia $US 900 MLN

Stabilisation fund gives Russia $US 900 MLN

According to Finance Ministry figures published on Thursday, Russia has earned almost $US900 MLN from investing its multibillion-dollar Stabilisation fund in top investment grade securities.

The oil revenue fund reached over $US 83 BLN as of December the 15.

In late July, Russia began investing the fund's revenues in Triple A-rated US Treasury bonds, earning over 11% or SUS 880 MLN.

The Stabilisation Fund collects budget revenues on oil prices exceeding $US27 a barrel and was set up with the aim to contain inflation.