• Russia Says It Has A Budget Surplus Amid Oil Price Spike

    8 days ago - By ETF Daily News

    From John Rubino : The price of oil is rising, which is obviously good news for those who sell it to the rest of us.
    Russia in particular seems to be enjoying the current trend, so much so that - if I'm understanding this correctly - Moscow is now receiving more in taxes than it's spending. This is producing something called a “budget surplus,” which is a kind of currency war weapon that can be deployed to improve a country's geopolitical position. Here's a quick overview:
    Russia To See Oil Revenues Jump Fivefold
    - Due to the oil price rally, Russia expects its oil and gas revenues to...
    Read more ...