The State Duma adopted in the first reading a bill to reduce the price of basic oil in the budget law to $50 per barrel for the years 2027-2030, Kommersant writes. The current cut price is $59. The new initiative reverses a plan adopted last year to gradually lower the cap by $1 a year to $55 by 2030. In addition, the document allows for the development of a federal budget for one year in case of security threats.

The State Duma adopted in the first reading a bill to reduce the price of basic oil in the budget law to $50 per barrel for the years 2027-2030, Kommersant writes. The current cut price is $59. The new initiative reverses a plan adopted last year to gradually lower the cap by $1 a year to $55 by 2030. In addition, the document allows for the development of a federal budget for one year in case of security threats.