Arkady Dvorkovich, a top aide to President Dmitriy Medvedev, stated that the rise in the price of oil to nearly USD 60 a barrel will result in greater revenues for the state budget. Extra income could be as high as RUR 500 billion in the current year.

The exact figure cannot be named at this point. Uncertainties yet remain with the dynamics of the price of oil. Revenues depend not only on the price of oil, but also on the dynamics of the market as a whole. 

The presidential aide noted that the increase in prices could lead to extra inflows of several hundred billion dollars. The extra income is not likely to surpass half a trillion dollars.

The Russian Ministry of Economic Development estimated the price of oil for 2009 at USD 57 a barrel.