Russia’s oil and gas revenues decreased by almost 30%

The reduction in oil exports will hit Russia’s budget by 120 billion rubles per month

Russia is losing significant income from energy exports as oil prices fall and sanctions tighten. According to experts, even a slight reduction in exports could cost the budget significant sums.

Russian oil companies “Rosneft” and “Lukoil” are facing the prospect of losing up to 120 billion rubles a month due to a possible reduction in exports by 5-10%. Such data was provided by analysts from Freedom Finance Global. The Russian Ministry of Finance also confirmed that oil and gas revenues in October 2025 decreased by 27% compared to the same period last year, reaching 888.6 billion rubles. The main mineral extraction tax decreased by 26%, reflecting an overall trend of declining revenues.

In the first ten months of 2025, the Russian budget received 7.5 trillion rubles from the sale of energy resources, 2 trillion less than in the same period last year. The rate of income decline is increasing: starting from 14% at the beginning of the year and reaching 21% in October.

The Kremlin acknowledges that new US sanctions targeting key oil players will further complicate the situation. About 70% of Russian oil exports are already under sanctions, including products from “Surgutneftegas” and “Gazprom Neft”. In addition, the price of Russian Urals oil was $53.99 per barrel in October, significantly lower than the planned $70.

The Russian Ministry of Finance has lowered its forecast for energy revenue by 22%, expecting 8.6 trillion rubles and does not anticipate growth in the next three years. Moreover, according to calculations, the budget deficit may reach 5.7 trillion rubles in 2025 and exceed 10 trillion in the following three.

According to Reuters, some EU member countries, including Hungary, France, Belgium, the Netherlands, Romania, Croatia, and Portugal, increased imports of Russian energy resources in 2025. This occurs in the absence of a unified approach among EU members on the issue of energy independence from Russia.