Overview
- Oil and gas revenues totaled 8.48 trillion rubles ($108.3 billion) in 2025, down 23.8% year on year, mainly due to a lower average oil price.
- Non‑oil and gas revenues rose 12.6% to 24.9 trillion rubles ($368 billion), with turnover‑based receipts including VAT up 7.1%.
- The finance ministry said 2025 oil and gas takings still exceeded their base size despite the annual decline.
- An additional 84 billion rubles (about $1 billion) in oil and gas proceeds will be credited to the National Wealth Fund in 2026.
- Reuters calculations reported on Jan. 19 indicate January 2026 oil and gas budget revenues could fall about 46% from a year earlier due to a stronger ruble and lower prices.