Russia is reportedly expecting a significant boost in energy revenues, amounting to USD 11 bln, even in the face of an oil price cap imposed by the G7 nations. This increase, accrued over the last five months of 2023 from oil and gas, is projected to exceed the initial estimations set in the country’s national budget. Insiders suggest that the finance ministry is contemplating using this windfall to cover the budget deficit. According to established fiscal regulations, any surplus revenue should be channeled toward buying foreign currency, which will, in turn, strengthen the reserves of the National Wellbeing Fund.