Oil And Gas Revenues Of The Russian Budget Fell By 47% In January-February

The RF Ministry of Finance explained the reduction in budget revenues by the decline in oil prices.

Oil and gas revenues of the Russian federal budget for January-February 2026 decreased by 47.1% compared to the same period last year and amounted to 826 billion rubles. This became known from the preliminary calculations of the Ministry of Finance of the Russian Federation.

The Ministry noted that oil and gas revenues were below their base amount for January-February of this year. In accordance with the "budget rules," the National Welfare Fund (NWF) in the amount of shortfall in revenues was used to finance the budget deficit. The Ministry of Finance explained the reduction in budget revenues by the decline in oil prices.

The report also notes that non-oil and gas revenues of the federal budget increased by 4.1% year-on-year, while the volume of expenditures increased by 5.8%. The budget for this period closed with a deficit of 3,449 billion rubles, which is 1,032 billion rubles higher than last year's level.

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