Russia's net budget revenue from oil production fell to 326.2 bln rubles (~$3.76 bln) in August, down about 22% YoY and the weakest since February, Finance Ministry data showed. The decline, driven by lower export prices, further pressures Kremlin funding for the Ukraine war; Russian tax authority data put the benchmark oil price used to calculate August receipts just above $59/bbl, versus Urals near $95/bbl in spring. On a monthly basis, August oil revenue plunged more than 60%.

2026-09-03

Russia's net budget revenue from oil production fell to 326.2 bln rubles (~$3.76 bln) in August, down about 22% YoY and the weakest since February, Finance Ministry data showed. The decline, driven by lower export prices, further pressures Kremlin funding for the Ukraine war; Russian tax authority data put the benchmark oil price used to calculate August receipts just above $59/bbl, versus Urals near $95/bbl in spring. On a monthly basis, August oil revenue plunged more than 60%.