In February, Russia's oil revenues and gas revenues are expected to have halved y/y.

Calculations showed that the Russian state's?oil?and?gas revenue in February 2025 will be almost half as much at 410 billion roubles (5.35 billion dollars) due to a stronger currency and lower oil price.

The Kremlin's main source of revenue is oil and gas revenues, which account for more than a quarter of the federal budget. However, this amount has been drained since Russia started its military campaign against Ukraine in February 2022.

Calculations are based upon data on production, refining and supplies of oil and gas on the domestic and international market.

The monthly revenue is expected increase by 3,1% in comparison to January, thanks to a subsidy known as a "damper payment" that is paid to oil refineries.

The oil companies are expected to pay the state 42 billion roubles in damper payments this month, as the fuel prices have made it less profitable to export fuel.

The Russian oil and gas revenue over the period?January-February will be 800 billion roubles. This is down from 1,56 trillion roubles during the first two months of 2025.

Budget forecasts a revenue of 8.92 trillion Russian roubles this year from the sale of oil and gas. The total budget revenue is expected to be?40.2883 trillion roubles in 2026. The federal budget revenue for Russia from oil and natural gas fell by 24% last year to 8.48 trillion Russian roubles. This was the lowest level in at least 2020.

(source: Reuters)