Moscow has announced that it intends to increase its Government Reserve Fund by 273.4 billion rubles ($3.23 billion), with a major portion coming from oil and gas sales. The funds will be used to implement measures to ensure the stability of the Russian economy as it faces extensive international sanctions, the Kremlin said in an April 10 statement. Of the 273.4 billion rubles, 271.6 billion rubles ($3.21 billion) will come from additional oil and gas revenues received during the first quarter of 2022. “The right of the Government to dispose of these funds is enshrined in amendments to the law on the specifics of the execution of budgets of the budget system of the Russian Federation in 2022, approved by the President in early March. These powers allow the Cabinet of Ministers to respond quickly and flexibly to changes in the situation in the economy,” the statement said. The Government …