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Russia’s oil and gas revenues down 1.62-fold year-to-date — finance ministry

The decrease in August was mainly due to windfall profits tax that is collected roughly once per quarter

MOSCOW, September 5. /TASS/. Russia’s oil and gas budget revenues decreased 1.62-fold in January-August to 4.836 trillion rubles ($49.59 bln) compared with 7.818 trillion rubles in the same period last year, according to data released by the Finance Ministry.

In August 2023, oil and gas revenues fell by 4.3% year-on-year to 642.7 bln rubles ($6.6 bln).

The decrease in August was mainly due to windfall profits tax that is collected roughly once per quarter. It brought 294.5 bln rubles to the Russian budget in July, and only 3.3 bln rubles in August.

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Finance Ministry

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