Kremlin Faces Economic Challenges Amid Falling Energy Revenues

The Kremlin has acknowledged that a significant drop in revenues from energy sales, coupled with a rising budget deficit, present 'routine difficulties' that can be addressed with Russia's overall macroeconomic stability.

Kremlin spokesman Dmitry Peskov commented after a recent meeting between President Vladimir Putin and senior government officials, focusing on the budget situation.

Peskov revealed that the meeting, which reportedly took place late Tuesday night and extended well into the night, showed Putin's keen interest in economic developments. The Russian economy's resilience is reportedly being bolstered by gains in non-energy revenues, despite declines in oil and gas earnings.