MOSCOW, January 11. /TASS/. Russia reduced the volume of oil and gas revenues in 2023 in annual terms by 23.8% to 8.822 trillion rubles ($98.91 bln) against 11.586 trillion rubles ($129.45 bln) in 2022, according to the Ministry of Finance.

In December, the budget received 650.5 bln rubles ($7.27 bln), which is lower than the November level of 961.7 bln rubles ($10.73 bln).

According to the Ministry of Finance, taxes on the production and export of oil and gas condensate brought the budget 9.822 trillion rubles ($109.3 bln) in 2023, which is 11.2% less than a year earlier.

At the same time, the mineral extraction tax and export duty on gas fell almost twice - in 2023 they amounted to 1.785 trillion rubles ($19.56 bln) compared to 3.502 trillion rubles ($39.08 bln) a year earlier.

The Ministry also noted that the Russian federal budget in January 2024 may receive 130.8 bln rubles ($1.47 bln) in additional oil and gas revenues. "The federal budget's additional oil and gas revenues are expected to reach 130.8 bln rubles in January 2024. At the end of December 2023, the divergence between actual and expected monthly oil and gas revenues was minus 199.9 bln rubles," the ministry said.

The Ministry of Finance stated that this figure is attributable to changes in tax legislation affecting the excise tax on petroleum raw materials intended for processing, the submission of required updated tax returns, and deviations of physical volume indicators from projected values.

According to the ministry's materials, foreign currency and gold sales will total 4.1 bln rubles ($46.16 mln) per day from January 11 to February 6, 2024.

"The total amount of funds allocated for the sale of foreign currency and gold is 69.1 bln rubles. The operations will take place from January 15, 2024, to February 6, 2024, so the daily volume of foreign currency and gold sales will reach the equivalent of 4.1 bln rubles," the ministry said.