Russia's oil and gas revenues collapsed amid aggression against Ukraine - CPD

Due to aggression against Ukraine, Russia's oil and gas revenues have collapsed and continue to fall. This is reported by UNN with reference to the Center for Countering Disinformation of the National Security and Defense Council of Ukraine.

Details

According to the calculations of the Russian Ministry of Finance, this year the share of oil and gas revenues to the budget, which a few years ago was 50%, will decrease to 23% and will continue to fall in the coming years.

Officially, this is explained by the depletion of hydrocarbon reserves with low cost, avoiding the topic of the war against Ukraine. However, it was the war and sanctions that hit oil and gas revenues the hardest

They also added: this year, Russia was forced to trade oil at the break-even point or even at a loss. Having lost Western markets due to the war, Russia is forced to sell oil to India and China at huge discounts, which often amount to approximately 50% of the price.

Unwilling to end the war against Ukraine, the Kremlin is destroying the economic foundation of Russia in recent years with its own hands

Recall

According to the Foreign Intelligence Service of Ukraine, the Russian financial and institutional system is increasingly plunging into a mode of controlled chaos: spheres are becoming less and less transparent, control is reduced to manual management, and openness is practically disappearing.