The Russian government is considering lowering the oil price level above which it sends the proceeds to its wealth fund as the Kremlin’s oil and gas revenues are plummeting with widening discounts and key buyers like India pulling out of the spot market. Under the so-called budget rule, Russia had a baseline price of $60 per barrel of oil for 2025. At prices above $60 per barrel for its oil, Moscow funnels excess revenue to its National Wealth Fund, a rainy-day reserves fund. However, when the price is below $60 per…