The Russian budget lost 20% of oil and gas revenues against the background of the strengthening of American sanctions. About this informs DW.
American sanctions imposed against the Russian Federation due to its war in Ukraine forced Russian oil producers to increase discounts on their products, which led to a decrease in federal budget revenues from the export of raw materials.
In February, tax revenues from the oil and gas sector amounted to 771.3 billion rubles, which is 20% less than in the same period last year. In monetary terms, the budget was short of 156 billion rubles compared to February 2024 and 18 billion rubles compared to January of the current year.
The decline in Russian oil prices has become a serious challenge for the budget, where every third ruble of income is provided by oil and gas. The dollar-adjusted ruble oil price in February was 15% below the budget target, reaching the lowest level since July 2023 at 5,740 rubles per barrel against the planned 6,726 rubles. If the trend of falling prices continues, the budget may lose up to 1% of GDP by the end of the year.
