Russia to create anti-crisis fund to aid sanctions-hit companies

The money would be made available by blocking for a second year running transfers of funds from the federal budget into the Pension Fund.

By: Reuters | Moscow | Published: September 15, 2014 11:58:51 am

Russia’s Finance Ministry will create a multi-billion dollar anti-crisis fund in 2015 to aid those companies hit by sanctions, Russian news agencies cited Finance Minister Anton Siluanov as saying on Monday.

The money would be made available by blocking for a second year running transfers of funds from the federal budget into the Pension Fund and would also use a sum of money left in this year’s budget.

The decision to stop transferring money to the Pension Fund should give the budget an extra 309 billion roubles, Siluanov was quoted as saying.

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