Russia's budget will lose about $17 billion in oil and gas revenues in 2025

Oil and gas revenues to the Russian federal budget fell by 20.6% year-on-year in the first nine months of 2025. This was reported by the Ministry of Finance of the Russian Federation, writes The Moscow Times.

In September, Russia's energy revenues totaled 582.5 billion rubles ($7.1 billion), down 24.5% from a year earlier. At the same time, the figure increased by 15.3% compared to August.

In total, since the beginning of the year, Moscow has received 6.61 trillion rubles ($81 billion) from the sale of oil and gas, while in 2024 this figure exceeded 8 trillion rubles ($98 billion).

When adopting the budget for 2025, the Russian Ministry of Finance expected to collect 10.94 trillion rubles ($130 billion) from energy resources, of which 1.8 trillion ($22 billion) was to be allocated to the National Welfare Fund.

However, due to the fall in global oil prices and the strengthening of the ruble in the spring, the forecast was cut by almost a quarter to 8.32 trillion rubles ($100 billion).

In September, the Russian authorities slightly raised their expectations to 8.65 trillion rubles ($110 billion). For comparison, in 2024, Russia received 11.13 trillion rubles ($140 billion) from oil and gas.

• On September 11, it became known that Russia's revenues from the sale of crude oil and petroleum products in August decreased to one of the lowest levels since the beginning of the full-scale war against Ukraine.