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Russia working on new mechanism to service foreign debt - finance minister

FILE PHOTO: Illustration shows Russian Rouble coins are seen in front of displayed U.S. Dollar banknote

(Reuters) - Russia will prepare a settlement mechanism before June payouts that will allow it to service its dollar-denominated foreign debt, Finance Minister Anton Siluanov said in a TV interview aired on Friday.

Siluanov also said Moscow expects to receive up to an additional 1 trillion roubles ($15.27 billion) in oil and gas revenues this year, funds from which will be channelled to increased social welfare payments.

($1 = 65.5000 roubles)

(Reporting by Reuters; editing by Jonathan Oatis)