US sanctions have led to a nearly 20% drop in Russia's oil and gas revenues
Kyiv • UNN
the Russian budget lost nearly 20% of oil and gas revenues as of February 2025 due to the effect of Biden's 'farewell' sanctions.
According to the results of February 2025, the Russian treasury received 771.3 billion rubles in taxes from oil and gas companies, missing out on over 150 billion rubles compared to the figures from February 2024.
Reports UNN with a link to Bloomberg, The Moscow Times, and DW.
The Russian government has lost billions
The Russian budget has lost nearly 20% of oil and gas revenues amid the tightening of American sanctions imposed due to Russia's war against Ukraine.
The corresponding result is related to the fact that Russian oil companies, due to increased pressure from sanctions, are forced to increase discounts on their products.
As of February, Russia received 771.3 billion rubles in taxes from oil and gas companies - this is 18% less than a year earlier.
It is also reported that in monetary terms, the Russian treasury received 156 billion rubles less compared to the amount recorded in February 2024.
It is also mentioned that there is a shortfall of 18 billion rubles compared to January of the current year.
Thus, the tightening of U.S. sanctions against Russian oil contributes to the decline of Kremlin revenues in the oil and gas sector.
The fall in oil prices and the budget deficit of Russia
The "headache" for the budget, where every third ruble of income is provided by oil and gas, is the fall in prices for Russian oil.
According to Bloomberg, the Urals grade at shipment from the ports of Novorossiysk and Primorsk at the end of February cost about $58 per barrel. However, the Russian budget project is based on $69.7.
Due to Biden's "farewell" sanctions, which affected, among others, "Surgutneftegas" and "Gazprom Neft", as well as over 180 tankers of the "shadow fleet", the Russian economy may lose between 10% to 20% of foreign currency earnings from oil sales
Up to 2 trillion rubles in monetary terms - this is the amount by which the budget deficit of Russia may increase. This was reported the day before by Deputy Minister of Finance of Russia Vladimir Kolichev.
It should be noted that the Russian government planned to reduce the budget deficit level by three times in 2025.
The USA plans to ease sanctions against Russia - Reuters03.03.25, 21:59 • 22241 view
