Russian Oil Revenue Falls to Two-Year Low as Global Prices Sink

Russia’s proceeds from oil in the state budget shrank last month to the lowest since June 2023 as global crude prices declined.

Oil-related taxes dropped by 32% last month from a year earlier to 430.4 billion rubles ($5.5 billion), according to Bloomberg calculations based on Finance Ministry data published on Wednesday. Combined oil and gas revenue totaled 512.7 billion rubles, down more than 35%.