MOSCOW, August 14. /TASS/. Russia’s oil and gas revenues are expected to seriously increase in coming months, with their additional volume to total around 800 bln rubles ($7.9 bln) by the end of the year, Presidential Aide Maxim Oreshkin said in an op-ed article for TASS.

"Amid growth of prices for oil and gas the flow of oil and gas revenues will seriously increase in coming months, while the volume of additional (above base level) oil and gas revenues will amount to around 800 bln rubles by the end of the year, which will permit substantially reducing the use of the National Wealth Fund’s (NWF) funds for financing budget deficit," he said.

According to preliminary figures provided by the Finance Ministry, Russia’s budget oil and gas revenues went down by 41.4% in January-July 2023 year-on-year to 4.2 trillion rubles ($43.4 bln).

Meanwhile the ministry also said earlier that the federal budget could receive 73.2 bln rubles ($724 mln) worth of additional oil and gas revenues in August 2023.