Russia will need to spend 500 billion rubles ($12.5 billion) from its Reserve Fund to plug holes in the federal budget next year if the ruble and the price of oil don't bounce back from their recent sharp falls, Finance Minister Anton Siluanov said.
Ukraine's Energy Challenge
The Moscow Times: Low oil prices will force Russia to use billions from reserves
Russia's Finance Minister Anton Siluanov (L) and Economic Development Minister, Alexei Ulyukayev, attend a meeting in the Kremlin in Moscow, on December 25, 2013.
