The Ministry of Finance plans to set the cutoff price of $50 per barrel for 2027-2029

The Ministry of Finance of Russia formed the budget based on the cutoff price of $50 per barrel, this level is planned to be set for 2027-2029. This was announced by Finance Minister Anton Siluanov at the Moscow Financial Forum. He noted that the authorities took into account the possible reduction in the cost of oil and undesirable risks.

“Everyone is saying why there is so little, although in fact it is not enough, this money could be used for spending!” But wait, we don't have to let the budget down, create risks. And if the price will be lower, and it is possible that it will be lower, and most likely it will be lower. And what will we do? said Siluanov (quoted by RIA Novosti).

Now the cutoff price is $59 per barrel. According to the budget rule, if the actual price of oil is higher than this indicator, the Ministry of Finance directs excess oil and gas revenues to the National Welfare Fund. In September 2025, Siluanov said that the Ministry of Finance plans to reduce the dependence of the budget on oil and gas revenues. The agency planned to reduce the cut-off price by $1 each year to reach $55 per barrel by 2030.