Russia's oil and gas revenues have almost halved this year

This is stated in the report of the Ministry of Finance of the Russian Federation.

It is noted that the corresponding drop in oil and gas revenues of the Russian Federation is due to a decline in Urals oil prices and a reduction in gas exports.

According to the Russian Ministry of Finance, budget revenues at the beginning of the year decreased by 25%, amounting to 3.163 trillion rubles, while expenditures increased by 52% to 5.744 trillion rubles.

In particular, it is reported that Russia's expenditures on public procurement in January-February 2023 amounted to RUB 2.074 trillion, while in the same period last year, RUB 654 billion was spent on government purchases.

• On February 4, the European Union set the price ceiling for Russian gasoline and diesel fuel at $100 per barrel, and for products sold at a discount at $45 per barrel.

• On February 5, the EU banned imports of petroleum products from Russia. This applies, in particular, to gasoline, diesel, kerosene, oil and fuel oil.