Russia Pauses Budget Rule Change as Oil Rally Eases Woes

Russia is delaying a decision aimed at reducing its dependence on energy income as oil prices surge on the back of the war in the Middle East.

An adjustment to the country’s budget rule — which sets the oil-price threshold for tapping reserves in the National Wellbeing Fund — has been postponed, along with sales of the fund’s assets to finance the deficit, according to two people familiar with the discussions, who asked not to be identified because the talks aren’t public.