Russia’s oil and gas revenues appear to have fallen by almost half in February. This is reported by the American edition of Bloomberg, citing a statement by the Russian Ministry of Finance. According to the publication, tax revenues from petroleum products fell by 48% compared to the same month last year. In February, the state earned $6.9 billion from oil sales.
According to the report, the reason for the fall is the price cap imposed by the G7, which makes it much more difficult for Russia to export crude oil. In addition, the first part of the EU oil embargo against Russia has been in effect since the beginning of December. It is true that companies in Russia are responsible for exports. However, the Kremlin, among other things, receives income from taxes levied on exports.
Incomes of the occupying country from gas sales also fell sharply: compared to the previous month, revenues from gas sales decreased by 42%. Gazprom’s revenue from gas export duties fell by 81%, the report said.
Recall that Russia stopped exporting pipeline gas due to the Nord Stream 1 gas pipeline in the summer of 2022.
Source: Fakty
I am Joseph Zeman, a journalist who mostly covers world news for the Daily News Hack. I pride myself on being able to find and report stories that others might miss. I have a knack for being able to see both sides of every issue and this allows me to provide readers with well-rounded stories. In addition to my work as a journalist, I am also an author and have written several books on current affairs.
