Amid rising resource prices: Russia’s budget revenues from oil and gas rose significantly in July
5 August 16:09
The Russian Federation’s federal budget revenues from oil and gas rose by 18.6% year-over-year and by 36.6% compared to June in July 2026, thanks to high oil prices and the payment of the tax on additional income, reports "Komersant Ukrainian", citing Russian propaganda media.
Oil and gas revenues, which account for about a quarter of the state treasury’s collections, totaled 934 billion rubles last month, which is nearly 147 billion rubles higher than last July’s figures and 250.4 billion rubles more than in June.
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Excluding VAT, July revenues were 148.5 billion rubles, or 21.6%, lower than in June.
Budget expenditures on compensation to oil refiners decreased. Expenditures related to the excise tax on crude oil fell to 79.8 billion rubles from 101.9 billion rubles in the previous month, and payments under the fuel price buffer program fell to 113.0 billion rubles from 210.6 billion rubles.
In total, 4.6 trillion rubles in oil and gas revenues have flowed into the treasury since the beginning of the year, which is 16.8% less than in January–July 2025. For the first half of the year, these revenues were 23% lower than last year’s. Thus, over seven months, the budget collected 51.5% of the annual target of 8.92 trillion rubles.
For the full year of 2025, oil and gas revenues fell by 24% to 8.48 trillion rubles, the lowest level since the COVID-19 pandemic in 2020.
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