Survey shows: Russia's oil and gas budget revenue is expected to decrease by 46% in January.

According to calculations, due to the decrease in oil prices and the appreciation of the ruble, Russia's federal budget revenue from oil and gas taxes is expected to decrease by 46% in January compared to the same period in 2025. Oil and gas revenue accounts for about a quarter of Russia's federal budget revenue, and it is estimated to drop to about 420 billion rubles in the first month of this year, the lowest level since the sharp decline in global fuel demand caused by the pandemic in August 2020. The Russian Ministry of Finance will announce the data on oil and gas revenue in the budget on February 4th.