Russia’s oil and gas revenue is plummeting
Revenue from oil and gas forms the main financial source for the Russian government. For a long time, these revenues created a significant bubble, but now, according to Bloomberg’s calculations, it seems this trend has come to an end.
The Russian government’s financial resources appear to be under increasing pressure. Based on Bloomberg’s calculations, the Russian government’s revenue from oil and gas sales has recently been nearly halved.
Although exports are carried out by companies, the Russian government benefits from this, among other things, through taxes imposed on raw material exports.
According to Bloomberg’s report, these taxes in February decreased by 46% compared to the same month last year.