MOSCOW—The Russian government is preparing itself for a worsening global economic environment that could dent high oil prices, upsetting the country's fiscal balance and further weakening the ruble.

 BY WILLIAM MAULDIN AND ALEXANDER KOLYANDR

MOSCOW—The Russian government is preparing itself for a worsening global economic environment that could dent high oil prices, upsetting the country's fiscal balance and further weakening the ruble.

The country's new finance minister said Monday he is "ready for the situation to worsen," which would put the budget balance at risk after an expected surplus this year. Prime Minister Vladimir Putin, facing parliamentary elections in days, warned lawmakers and the opposition not to "rock the boat" since Russia is facing "very many uncertain factors and risks," including a possible crisis.

With crude oil expected ...