Russia losing billions from oil, revenues have fallen by nearly 20%, — Intelligence service
Illustrative photo: Russia is losing oil profits (Getty Images)
Russia is losing its revenue from oil and gas exports. Since the beginning of the year, it has decreased by nearly 20%, according to the Ukrainian Foreign Intelligence Service on Telegram.
"Oil and gas revenues of the Russian budget fell by 18.5% year-on-year in January–July 2025, to $69.2 billion," the Foreign Intelligence Service (SZR) noted.
They specified that the July revenue figure decreased by 27% — to $9.9 billion. Meanwhile, mineral extraction tax collections dropped by 34.3%.
Gazpromneft posted a net profit of $2.9 billion in the first half of the year — 1.8 times less than previously. Sales profit declined from $2.97 billion in the first half of 2022 to $234 million.
In the Khanty-Mansi Autonomous Okrug, one of the main oil-producing regions, companies’ total loss for January–May reached $8.8 billion, while sales profit was only $2.49 billion.
The decline in revenues is linked to several factors: falling global oil prices, increased taxes, and sanctions. These factors create risks for the industry and force the Russian authorities to seek new ways to adapt to economic challenges.
Russia’s revenue decline
Earlier, Bloomberg reported that oil taxes in Russia fell by almost one-third in July — down to 710.4 billion rubles (approximately $8.9 billion).
At the same time, Russia’s total oil and gas revenues in July decreased by 27% compared to last year.
