Russia's oil & gas revenues up in June but down 22.7% for H1

The state tax on oil and gas in Russia, which represents around a fifth in the total budget, increased in June from 678.9 to 683.6 billion rubles ($8.84billion) from May.

The increase was 38% on an annual basis, largely due to the rise in oil prices worldwide triggered by the "Iran War".

The revenue for the first six months of the year was down by 22.7% compared to the same period in the year 2025, at 3.66 trillion roubles.

Oil prices are down since U.S.A. and Iran reached a preliminary "peace" agreement last month.

According to trader's data and calculations the prices of Urals crude cargoes that were loading from Russia's western port ports dropped about 60% this week compared to their peak in March.

The budget for Russia in 2026 forecasts oil revenue of 8.92 trillion Russian roubles. The total budget revenue for this year is estimated at 40.283 trillion roubles.

The federal budget's oil and gas revenues dropped by 24% last year to 8,48 trillion roubles. This is the lowest level since 2020.

(source: Reuters)