Russia’s oil and gas revenues took a hit, falling by about 12% in April compared to the same month last year, totaling $13.49 billion, as reported by the Russian Ministry of Finance on Wednesday. The ministry pointed to a significant drop in oil prices as the main reason behind this decline.
According to the report, revenues came in at 1.090 trillion rubles ($13.49 billion) last month, down from 1.230 trillion rubles recorded in April 2024, although they edged up slightly from the 1.080 trillion rubles reported in March.
Oil and gas revenues, which make up the backbone of the country’s income, have consistently accounted for between one-third and one-half of total federal budget revenues over the past decade.
