ussia’s federal budget revenues from oil and gas fell by 9.8% year-on-year in the first quarter of 2025, according to data released Tuesday by the Russian Ministry of Finance.
“Oil and gas revenues totaled 2.642 trillion rubles ($30 billion), marking a 9.8% decline compared to the same period last year. This decrease was primarily due to a one-time additional payment on the mineral extraction tax in February 2024, as well as a drop in average oil prices,” the ministry stated in a press release.
In contrast, non-oil and gas revenues saw a 10.6% increase year-on-year, reaching 6.4 trillion rubles ($75 billion).
“Non-oil and gas revenues amounted to 6.408 trillion rubles, exceeding initial projections by 10.6% and forming a solid foundation for sustained income growth,” the ministry noted.
Additionally, revenues from sales taxes, including VAT, rose by 9.4% year-on-year.
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