Russia’s oil and gas revenue in October is expected to drop by about 21% to 950 billion roubles ($11.7 billion) from last year, due to lower prices and a stronger rouble.
This decline poses challenges for the government, which is already dealing with a growing budget deficit and increased military spending.
Oil and gas revenue represents up to 25% of Russia’s budget and is crucial for funding its military operations in Ukraine. However, there will be a month-on-month increase of 63% in October, attributed to profit-based tax payments.
The finance ministry will release its October revenue estimates on November 5, with a revised forecast for 2025 revenue now at 8.32 trillion roubles.