Russia's Oil and Gas Revenue Declines 38.3% in First Four Months of 2026

Kathmandu. Revenue from Russia's oil and gas has decreased.

In the first four months of 2026, income from oil and gas decreased by 38.3% to approximately 30.95 billion US dollars compared to the same period last year, the Russian Ministry of Finance stated on its website on Friday.

The ministry stated that this decline was mainly due to lower oil prices in previous periods. However, non-oil and gas revenue increased by 10.2% during this period, reaching approximately 126.9 billion dollars.

The ministry said, "Despite fluctuations in energy income due to the accumulation of additional oil and gas revenue during periods of favorable price conditions and the use of the National Wealth Fund to cover shortfalls in less favorable periods, the stability of the budget system has been ensured."

According to the budget law prepared for the period from 2026 to 2028, Russia is estimated to earn approximately 120.10 billion dollars from oil and gas and approximately 422.40 billion dollars from non-fuel revenue for 2026.