the finance ministry says.December oil and gas revenue was Rbs650.5bn,32pc lower on the month.Proceeds from gas mineral extraction tax and export duties almost halved on the year to Rbs1.78 trillion in 2023,the ministry's data show,following the collapse of pipeline exports to Europe in 2022...
Image:Oil prices have surged this year The UK government said oil makes up 44% of Russian exports and 17% of federal government revenue through taxation America, which had previously floated the idea of an oil ban over the weekend, is acting more swiftly than i...
The Financial Times newspaper said Russia's oil and gas exports earned the nation $117 billion during the first eight months of 2022, which was around a third of the nation's total budget for the year. The G7 said, following two days of talks in Germany, it still has some details to ...
According to a report released by the International Energy Agency recently, Russian oil revenue soared by 50 percent from a year ago. At the same time, sanctions have taken a toll on the EU economy, with price hikes undermining economic growth in the bloc. The EC economic forecast released ...
involves changing the main parameters of the current year; while the structural deficit will remain the same, overall it will be slightly higher than the figure planned for this year in absolute terms due to a lower forecast for oil and gas revenues, Deputy Finance Minister Vladimir Kolychev to...
the U.S. is taking aim at the heart of the Russian economy: its energy sector. President Biden on Tuesday announced aU.S. ban on Russian oil and gas importsover the country'sinvasion of Ukraine, a direct hit on Russian President Vladimir Putin's main revenue source as Russian forces cont...
CREA also noted the comprehensive sanctions on oil production might cut up to $20 billion from Russia’s oil and gas revenue forecast of $110 billion this year. Following tougher US sanctions introduced earlier this year, India and China halted the purc...
“The ruble is the world’s best-performing currency this year,” Bloomberg said. The US “Business Insider” website reported on June 2 that Russia’s revenue from oil and gas exports this year may reach 285 billion US dollars, or 800 million US dollars a day from oil and gas, which...
That means energy revenue is bolstering the Kremlin's budget, adding to foreign currency reserves even as Western sanctions have targeted Russia's reserves abroad. The Russian government received an average of 43% of its revenue from oil and gas between 2011 and 2020. ...
president, Draghi said both he and Biden were “dissatisfied” with the structure of global oil markets and had talked about setting a price cap on both oil and gas. “The idea is to create a cartel of buyers, or to persuade the big producers, and Opec in particular, to increase ...