And returns Oil Gas is the Kremlin’s most important source of cash, accounting for between a third and a half of the total federal budget over the past decade.
Initial estimates indicate that revenues will reach Russia Oil and gas in September amounted to 779 billion rubles, up five percent compared to the same month in 2023 and unchanged from August of this year.
The Russian Finance Ministry is scheduled to publish September data on October 3.
State coffers received a boost from the average price of Russian Urals crude rising to $69.88 a barrel on average in the first eight months of the year, up from $56.61 a barrel in the same period in 2023.
In 2024 as a whole, the government has budgeted federal revenues of 10.7 trillion rubles from oil and gas sales, up 21 percent from 2023 when revenues fell 24 percent due to weak oil prices and a drop in gas exports.
