US EditionRussia’s Oil and Gas Revenues Dip to January 2023 Low
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Russia’s Oil and Gas Revenues Dip to January 2023 Low
Russia saw its revenues from oil and gas for the budget crash by 33.7% in June from a year earlier—to the lowest level since January 2023, amid weaker commodity prices and a stronger Russian ruble. For June, total budget revenues from oil and gas dipped to $6.3 billion (494.8 billion Russian rubles), according to data from Russia’s finance ministry published on Thursday. Revenues for the first half of the year also fell compared to the same peri…
The fall in oil prices and the abnormally strong ruble led to the fact that oil and gas revenues of the Russian budget for the first time since January 2023 fell below 500 billion rubles. for the month — in June they amounted to 494.8 billion rubles.
The Russian Federation ' s annual revenues from energy sales fell by 33.7 per cent to 494.8 billion roubles (equivalent to 5.3 billion euros) in June, down from 3.5 per cent in May.
The Russian authorities have quite a headache. There were already voices that the economy was close to recession and there was a risk of a banking crisis. The latest data show a large drop in budget revenues from oil and gas, and these constitute a significant part of the revenues financing, among other things, the war.
Russia's oil and gas export revenues fell 33.7% year-on-year in June to 494.8 billion rubles ($6.29 billion), the Finance Ministry said on Thursday, as oil prices fell and the ruble appreciated, Reuters reported. These revenues are the most important source of cash for […] The article Russia's oil and gas export revenues fell by more than a third in June; problems financing military spending first appeared on CursDeGuvernare.ro.
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