Russia has reported a significant decline in oil and gas revenues amid escalating geopolitical tensions, threatening the country's economic stability.
Decrease in Revenues in July
In July 2025, Russia's revenues from oil and natural gas fell by 27% compared to July 2024. According to the Ministry of Finance, revenues totaled 787.3 billion rubles (approx. $9.8 billion), down from last year's 1.079 trillion rubles (almost $13.5 billion). Furthermore, from January to July this year, Russia lost around 18.5% of its oil and gas revenues, totaling 5.522 trillion rubles ($69 billion).
CITE_W_A: 'Taxes on oil and gas condensate extraction brought 885.2 billion rubles ($11 billion) to the budget in July 2025, which is 34.3% lower than last year.'
Projected Shortfall in August
The Ministry of Finance has also projected that next month the shortfall in oil and gas revenues for the federal budget may reach 12.1 billion rubles (over $151 million). In July, the deviation between forecast and actual figures stood positively at 5.9 billion rubles, while for August, a negative forecast of oil and gas revenues at -12.1 billion rubles is anticipated.
Impact of Sanctions on Energy Resources
The latest official statistics on oil and gas trade come amid increasing pressure on Russian energy exports due to Western sanctions. In mid-July, the European Union approved a new price cap for Russian oil, set around $15 below global market rates. Additionally, US authorities imposed 25% tariffs on Indian energy imports due to its significant purchases from Russia, though officials in New Delhi made it clear that no instructions have been given to reduce these imports.
The decline in oil and gas revenues in Russia highlights the impact of sanction policies and the increasing pressure from the international community on the energy sector, potentially influencing the country’s economy further.
