Russia to replenish rainy-day fund in yuan

The National Wealth Fund, which accumulates revenue from the country’s energy exports, has been growing this year Russia’s Finance Ministry intends to replenish the National Wealth Fund (NWF) in Chinese yuan starting from next year as part of its budget rule, the head of the ministry, Anton Siluanov, has revealed. The fund, which accumulates revenue from oil exports, is part of Russia’s federal budget assets. It was created to support the national pension system, and the funds can also be used to cover budget deficits in times of crisis. The assets of the fund amounted to $186.5 billion as of December 1. In 2020,

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