New data shows Russian oil and gas revenues down 35% year-on-year

Russia’s federal budget revenues from oil and gas in August fell by 35% compared with the same month last year.

Source: The Moscow Times, an independent Amsterdam-based news outlet, citing data from the Russian Finance Ministry

Details: Oil and gas revenues, which account for about a quarter of Russia’s state income, totalled RUB 505 billion (about US$6.2 billion) last month. 

Compared with July, when the additional income tax was collected, revenues fell by 36%.

For the first eight months of 2025, Russia’s oil and gas revenues were 20% lower than in the same period last year, amounting to RUB 6.03 trillion (about US$74.6 billion).

The Russian Finance Ministry initially planned to collect RUB 10.94 trillion (about US$135.2 billion) in oil and gas revenues this year, with RUB 1.8 trillion (about US$22.2 billion) going to the National Wealth Fund.

However, falling oil prices and a strengthening rouble forced the authorities to cut their forecast by almost a quarter, to RUB 8.32 trillion (about US$102.8 billion).

Last year, Russia’s federal budget received RUB 11.13 trillion (about US$137.6 billion) from oil and gas.

Background: All major Russian oil companies saw their profits fall two- to threefold in the first half of 2025.

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