Russia restricts investment from Reserve Fund

Russia's Finance Ministry has imposed restrictions on the use of the country's Reserve Fund, permitting only investments in debt instruments of foreign states and international financial institutions, the ministry said on Thursday.

MOSCOW, March 5 (RIA Novosti) - Russia's Finance Ministry has imposed restrictions on the use of the country's Reserve Fund, permitting only investments in debt instruments of foreign states and international financial institutions, the ministry said on Thursday.

In addition, the Reserve Fund, which was designed to cushion the federal budget against a fall in oil prices, may no longer be invested in the bonds of foreign government agencies and central banks, and foreign bank deposits, the ministry said in a statement on its website.

Investment from the National Wealth Fund, intended to help the government carry out pension reforms, will now be limited only to the debt obligations of foreign states, the statement said.