Russia’s oil and gas revenues fell sharply again in November, the Finance Ministry said Wednesday, underscoring mounting pressure on the federal budget from a combination of sanctions, weak crude prices and a strong ruble.
www.themoscowtimes.com
"Russia’s oil and gas revenues fell sharply again in November, the Finance Ministry
said Wednesday, underscoring mounting pressure on the federal budget from a combination of sanctions, weak crude prices and a strong ruble.
The government collected 530.9 billion rubles ($6.8 billion) in oil and gas taxes last month, a 34% drop from the same month a year earlier.
Revenue from the mineral extraction tax fell 36%, while export duties slumped nearly 40%.
Oil and gas income totaled 8 trillion rubles ($103 billion) in the first 11 months of the year, down 2.3 trillion ($29.63 billion) from the same period in 2024.
The decline has accelerated over the year, from 14% in May to 20% in August and 22% by early December."