Russian oil and gas revenues to drop over one-third in July - Reuters
Russia's gas profits declining (illustrative photo: Getty Images)
In July, Russia's revenues from oil and gas sales could drop by approximately 37% compared to the same month in 2024, Reuters reports.
According to the outlet's estimates, Russia's energy revenues in July may total around 680 billion rubles ($8.66 billion), driven by a decline in oil prices.
This drop remains a sensitive issue for the Russian budget, especially amid a sharp increase in defense and internal security spending since the start of the full-scale war against Ukraine.
Reuters notes that the average price of Russian oil, in ruble terms, remains below the target level set in the 2025 federal budget.
Additionally, from January to July, Russia's cumulative oil and gas revenues could fall by 20% compared to the same period in 2024, amounting to roughly 5.4 trillion rubles (around $68.95 billion).
Trump's threats
US President Donald Trump earlier announced he would impose tariffs on Russia's trade partners if Moscow does not end the war within 50 days.
As a result, China, India, and Brazil face the threat of 100% US tariffs.
India's Oil Minister Hardeep Singh Puri has already stated that his country may stop purchasing Russian oil if the US imposes such sanctions.
