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Russia's oil and gas revenues declining, partially offset by other revenues — Kremlin

Russia’s federal budget revenues from the oil and gas sector amounted to $5.1 bln in January 2026, which is 50.2% lower than in the same period last year

MOSCOW, February 26. /TASS/. Oil and gas revenues of the Russian budget are declining, which is partially offset by an increase in non-oil and gas revenues, Kremlin Spokesman Dmitry Peskov told reporters.

"There is indeed a decline in oil and gas revenues, and this decline is partially offset by growth in non-oil and gas revenues, which is what Prime Minister [Mikhail Mishustin] spoke about yesterday," Peskov said as he commented on the decline in oil and gas revenues of the Russian budget and the growing budget deficit against this backdrop.

Russia’s federal budget revenues from the oil and gas sector amounted to 393 bln rubles ($5.1 bln) in January 2026, which is 50.2% lower than in the same period last year, the Finance Ministry reported earlier. In this regard, in accordance with the fiscal rule, the funds of the National Welfare Fund (NWF) in the amount of lost oil and gas revenues have been directed toward financing the country’s federal budget deficit.