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Russia Considers Spending Wealth Fund Billions on Infrastructure
Bloomberg 4 days ago Evgenia Pismennaya and Anya Andrianova
(Bloomberg) Russia may spend billions of dollars from its wealth fund this year on infrastructure and other investments, and projects related to Rosneft PJSC’s huge Vostok Oil venture in the Arctic are high on the list of candidates, according to two officials with knowledge of the discussions.
The largesse could represent a significant boost in spending as the government has been cutting back on other stimulus introduced last year amid the coronavirus pandemic, the officials said, speaking on condition of anonymity to discuss plans that aren’t yet public. President Vladimir Putin last week gave the government a month to draw up a list of specific investments for the fund.