Russia’s oil and gas revenue is projected to jump 60 percent in July compared with a year earlier, according to calculations by Reuters. Rising global oil prices are driving the projected increase. A sharp rise in second-quarter receipts from the profit tax on oil extraction also contributed, Reuters said.
Russia’s Finance Ministry is due to publish its July estimates on August 5, 2026.
In 2026, federal budget revenue from the oil and gas sector is projected at 8.9 trillion rubles. Total budget revenue is expected to reach 40.3 trillion rubles. Oil and gas budget revenue fell 24 percent in 2025 to 8.48 trillion rubles, the lowest figure since 2020.
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