Oil revenues of the russian budget fell by 25%

Revenues of the russian budget from oil production and export decreased by 25%.

Among other things, russian oil revenues are affected by discounts that the terrorist country has to provide for customers in India, China and Turkey.

In November, the russian Ministry of Finance collected 527.8 billion rubles of mineral extraction tax from oil companies — 24% less than in the same period a year earlier, according to the department’s operational statistics.

Oil export duty revenues fell by almost 40% — from 68.5 billion rubles in November 2021 to 41.9 billion rubles in November this year. In total, the terrorist country’s budget earned 569.6 billion rubles from oil in November — by 25% compared to last year (763.5 billion).

The total volume of oil and gas revenues of russia decreased insignificantly – by 2.1%, to 866.4 billion rubles in annual terms. The much lower dynamics of the fall is associated with increased fees from Gazprom. The russian government ordered the company to pay 1.2 trillion rubles of increased tax on professional income to the budget in the fourth quarter.

Every month, Gazprom transfers 415 billion rubles to the budget, covering the government’s financial needs at the expense of last year’s profit. Without these one-time revenues, russia’s oil and gas revenues would fall by 49%.