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2026-09-09 20:00:09
[Russia's Oil and Gas Revenue Drops 16.7% Year-on-Year in First Eight Months] Russia's Ministry of Finance said on the 9th that oil and gas revenues in the federal budget totaled approximately 5.02 trillion rubles (about 86 rubles to 1 US dollar) from January to August this year, a decrease of 16.7% year-on-year. Preliminary assessments of budget execution released on the Ministry of Finance website that day showed that the main reasons for the year-on-year decrease in Russian oil and gas revenues in the first eight months of this year included the depreciation of the US dollar and lower oil prices in the fourth quarter of 2025 and the first quarter of 2026. The Ministry of Finance stated that using the Russian National Wealth Fund to offset losses in oil and gas revenues and accumulating additional oil and gas revenues during periods of favorable prices can maintain the stability of the budget system during fluctuations in oil and gas revenues. According to preliminary estimates by the Ministry of Finance, in the first eight months of this year, the Russian federal budget revenue was approximately 25.93 trillion rubles, an increase of 9.2% year-on-year, of which non-oil and gas revenue was approximately 20.91 trillion rubles, an increase of 18.1% year-on-year. (Xinhua)
