Russia’s Oil And Gas Revenues Slump 46% Year-Over-Year ...Middle East

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Russia’s Oil And Gas Revenues Slump 46% Year-Over-Year
Russia’s budget revenues from oil and gas plunged in January by 46% compared to the same month last year due to the sanctions on Russian oil exports, which led to a slump in the price of Russia’s flagship crude grade. Russian budget revenues from energy sales – including taxes and customs revenues – plummeted last month to the lowest level since August 2020, according to data from its finance ministry compiled by Reuters. In January 2023, the price of Russia’s flagship Urals grade averaged 42% lower than in the same…

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