Russia's Oil and Gas Revenue Decline: Unveiling Economic Strain
Russian state oil and gas revenues plummeted in January, marking their lowest since July 2020. This drop, driven by declining crude prices and a stronger rouble, significantly impacts Russia's budget, which is strained by military spending. The budget projects 8.92 trillion roubles from oil and gas sales this year.
Russian state oil and gas revenues fell by half in January, hitting the lowest point since July 2020, as per finance ministry data.
This decrease resulted from lower crude prices and a stronger rouble, impacting the budget that already faces a 5.6 trillion roubles deficit due to increased military expenditure.
The Kremlin depends on oil and gas, contributing nearly a quarter of the federal budget challenged by ongoing defense spending. Despite a projected 8.92 trillion roubles from oil sales this year, last year's revenues dropped 24% to their lowest since 2020.
Advertisement
ALSO READ
-
Indian Gas Market Surges with Record Trading Activity in January 2026
-
Putin and Xi Strengthen Russia-China Economic Ties Amid Global Tensions
-
Diplomatic Channels Open: Russia and France Engage in Technical Talks
-
Stalemate at the Negotiation Table: Russia, Ukraine Talks Continue
-
Xi and Putin Strengthen Sino-Russian Ties Amid Western Pressures
Google News