Sanctions Had Driven Russian Oil Revenue to Its Lowest Budget Share in Two Years — Then Washington Relaxed the Rules
Waivers for Russian crude already at sea helped lift exports from 4.9 million barrels per day to 6 million by May, analysts said.
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Russia's oil and gas revenues are expected to increase by 60 percent in July compared to last year, according to Reuters calculations.
Russian state revenues from oil and gas, which make up a fifth of total state revenues, should jump 60 percent in July compared to the same month last year, according to calculations reported today by the British agency Reuters on its website.
Oil and gas revenues of the federal budget of Russia, which provide about a fifth of revenues to the state treasury, in July this year will increase by 0.5 trillion rubles, or 60%, compared with July last year and will amount to 1.3 trillion rubles.
Reuters projects a 60% jump in Russia’s July oil and gas revenue
Russia’s oil and gas revenue is projected to jump 60 percent in July compared with a year earlier, according to calculations by Reuters. Rising global oil prices are driving the projected increase. A sharp rise in second-quarter receipts from the profit tax on oil extraction also contributed, Reuters said.
The Russian budget has unexpectedly received a chance to breathe. In July, Russian budget revenues from oil and gas could increase significantly thanks to rising global oil prices. However, despite the sharp monthly increase, revenues for the first seven months of the year will still be below last year's level, RBC-Ukraine reports, citing a Reuters publication. According to Reuters calculations, Russian budget revenues from oil and gas in July c…
Sanctions Had Driven Russian Oil Revenue to Its Lowest Budget Share in Two Years — Then Washington Relaxed the Rules
At the 7-8 July NATO Summit in Ankara, Turkey, leaders of the transatlantic alliance went through the usual formulaic program that accompanies all meetings of this type. There was the standard and obligatory “class picture” of all the heads of state standing at the podium with the NATO emblem on the wall behind them. Russian T-90 Tank. Image Credit: Creative Commons. T-90M. Image Credit: Creative Commons. Those same national leaders gave their p…
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