From January to June, oil and gas revenues of the Russian federal budget almost halved (minus 47% year-on-year) to 3.38 trillion rubles. This is specified report Ministry of Finance of Russia.
The agency explains the drop in oil and gas revenues as last year’s base was very high and the prices of Russian Ural oil also fell.
In addition, the fall in the cost of Russian natural gas and the decrease in export volume also put additional pressure. According to the Ministry of Finance, discounted shock absorber payments to oil companies and poor price performance will boost oil and gas revenues in the second half of 2023.
7 July Ministry of Finance knowledgeableThat in January-June the oil and gas revenues of the federal budget of Russia fell by almost half – 47% on an annual basis – to 3.382 trillion rubles.
Previously recognizedWhen oil prices drop to $50 a barrel