Russian budget revenues from oil and gas could fall by about 35% in November compared to November last year, with the main reasons being lower oil prices and sanctions.
Points of attention
- Experts predict a 35% decline in Russian budget revenues from oil and gas in November, attributed to factors like lower oil prices, ruble strength, and sanctions.
- The Russian budget is expected to face billion-dollar losses of 520 billion rubles from oil and gas sales, marking a 7.4% decrease compared to October.
- From January to November, the Russian budget is projected to receive about 8 trillion rubles in oil and gas revenues, representing a 22% decrease from the previous year.
Russian budget to lose billions of dollars in November
According to analysts' estimates, the Russian budget will receive 520 billion rubles from oil and gas sales in November. This is 7.4% less than in October, the agency notes.
For the period from January to November, the Russian budget will receive about 8 trillion rubles in oil and gas revenues, which is 22% less than for the same period last year.
The agency cites the fall in oil prices and the strengthening of the ruble, as well as sanctions, as the main reasons.
Russian oil cost $57.3 per barrel from January to November, compared to $68.3 per barrel last year. The ruble appreciated to an average of 81.1 rubles per dollar, compared to 91.7 rubles last year.
