The Presidency of the Russian Federation recognized this Thursday, the 26th, a drop in oil and gas revenues, sectors that have supported Moscow’s economy, due to sanctions on Russian companies due to the invasion of Ukraine four years ago.
“There is a decrease in revenues from oil and gas and this ‘low’ is partially offset by an increase in revenues not related to those sectors,” Kremlin spokesman Dmitry Peskov said in the daily conference call.
Peskov declared that “the stability of the Russian economy is absolutely guaranteed”, with the federal budget having 393 billion rubles (43.3 billion euros) in oil and gas revenues in January this year, 50.2% less than in the same period last year, according to a report from the Russian Ministry of Finance.
Russian Finance Minister Anton Siluanov indicated that revenues from the energy sector will represent less than 20% of the federal budget in 2026 and also admitted that, in 2025, Russia’s revenues from the sale of oil and gas fell by 23.8%.
The sanctions imposed on the Russian Federation after the start of the war in Ukraine targeted its oil and gas exports, on which the Russian economy is heavily dependent.
The United States imposed sanctions on Russian oil companies Lukoil and Rosneft at the end of 2025, which Washington says reduced Russian revenues from the sale of crude oil by approximately 25%.
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