Russia's oil and gas revenues fall: As the Kremlin loses money through sanctions

Thus, from January to April 2023, the oil and gas income of the aggressor decreased by 52%, compared with the indicators last year in the same period. The Ministry of Finance of the Russian Federation reports. According to the information, at the beginning of the year, the oil and gas income of the country amounted to 2. 3 trillion rubles, not oil and gas - 5. 5 trillion rubles. During the period from January to April, the budget of the Russian Federation was replenished for 7.

8 trillion rubles - this is 22% less than in the same period of 2022. At the same time, the costs of the Russian Federation in January-April amounted to 11. 2 trillion rubles, which is 26% more than the same period of 2022. The Russian Ministry of Finance does not openly recognize the impact of international sanctions on the country's income. There it is noted that the fall of oil and gas income occurs on the background of a decrease in quotations of oil prices for Urals and reducing gas exports.

The sanctions of the event were narrowed and complicated, but did not stop exporting energy from Russia. So now China, India and Turkey are the largest exporters of oil and gas instead of Europe. "The volume of exports of Russian petroleum products has not yet changed, since sanctions against them were imposed only in February 2023.

But in the case of Russian petroleum products it will be much more difficult to find alternative markets, except in the presence of large discounts, which can already be observed on the example Delivery to Turkey and even to Brazil and the Gulf countries, ”said Alexander Martynenko, head of the ICU Corporate Analysis of the ICU group in May 2023. Meanwhile, the losses of the Russian Federation from gas exports were much larger.