MOSCOW, January 30. /TASS/. The share of oil and gas revenues in Russia’s federal budget in 2024 amounted to about 30%, the high level of income from oil sales was supported in particular by the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak wrote in his article for the Energy Policy magazine.
"Our country maintains the status of one of the world's leading oil producers and is a key participant in the long-term agreement to limit oil production between OPEC+ countries, which allows us to quickly respond to market changes and ensure a balance of supply and demand. In addition, the deal has a positive effect on our country's income. Due to the rise in prices for Russian oil, the share of oil and gas revenues in the federal budget in 2024 amounted to about 30%," he wrote.
According to the Finance Ministry, Russia received 11.131 trillion rubles ($113 bln) in oil and gas revenues in 2024, while in 2023 it was 8.822 trillion rubles ($90 bln).