| Russia cannot spend more of the $83 billion parked in its National Wealth Fund (NWF), President Vladimir Putin said on Monday, after the government recently raised the cap on how much of the fund can be used for domestic investments. Spending pressure on the government has increased as a result of the Ukraine crisis, which has led several Russian companies to request state finance to compensate for the closure of western capital markets.
The NWF, a fiscal reserve financed from oil taxes, has become a prime target for lobbyists, notably since Russia has earmarked 60 percent of the Fund for internal investments, particularly infrastructure projects...............................................Full Article: Source
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