Source: Bloomberg
“The Russian government’s oil revenues collapsed to the lowest in more than five years in January as weaker global prices, steeper discounts for the nation’s barrels, and a stronger currency took a toll on the budget. Oil-related taxes halved to 281.7 billion rubles ($3.7 billion) last month from a year earlier, according to Bloomberg calculations based on finance ministry data published Wednesday. Combined oil and gas revenue also declined by 50%, to 393.3 billion rubles. Lower proceeds from the two industries, which between them contribute about a quarter of the budget, will put more strain on the nation’s coffers as the war in Ukraine drags toward a fifth year with little sign of ending.” (02/04/26)