Economy, Asia - Pacific
Russia's oil, gas revenues down 35% in May
Oil, gas revenues drop 37% due to falling oil prices in first 5 months of 2025
Emre Gurkan Abay and Mucahithan Avcioglu |
04.06.2025 - Update : 05.06.2025
File Photo
MOSCOW/ISTANBUL
The Russian Finance Ministry reported Wednesday that oil and natural gas revenues fell 35.4% in May, compared to the same month last year, to 512.7 billion rubles ($6.5 billion).
In the first five months of 2025, they dropped 37.4% to 4.24 trillion rubles.
The ministry said there was more revenue loss from oil and natural gas in May than planned.
With falling oil prices in Russia, the budget had a deficit of 3.2 trillion rubles from January - April.
The price of Brent crude oil has declined more than 11% since the beginning of 2025.
