Russia's Oil and Gas Revenue Falls 16.7% in January-August

According to Jin10, Russia's oil and gas revenue in federal budget income totaled about 5.02 trillion rubles in January-August, down 16.7% year on year. Russia's Finance Ministry said the decline was mainly due to a weaker U.S. dollar exchange rate and lower oil prices in the fourth quarter of 2025 and the first quarter of 2026. The ministry said using the National Wealth Fund to offset lost oil and gas revenue and accumulating extra oil and gas revenue during favorable price periods can help keep the budget system stable. It also estimated that Russia's federal budget revenue reached about 25.93 trillion rubles in the first eight months, up 9.2% year on year, including about 20.91 trillion rubles in non-oil and gas revenue, up 18.1%.