Russia Reports 22% Drop in Oil Revenues

Russia’s Finance Ministry said Friday that oil revenues fell to a six-month low in August, with net oil production revenues transferred to the state budget declining by 22% year-on-year.اضافة اعلان

According to a ministry statement, net oil production revenues transferred to the budget totaled approximately $3.8 billion in August, as Russia’s oil sector continued to face pressure on revenues and returns declined compared with the same period last year.