Russia’s Oil and Gas Revenue Decline by 35% in May

Moscow: The Russian Finance Ministry has announced a significant 35.4% decrease in oil and natural gas revenues for May, compared to the same period last year, bringing in 512.7 billion rubles ($6.5 billion). According to Anadolu Agency, the first five months of 2025 saw an even more pronounced drop of 37.4%, with total revenues amounting to 4.24 trillion rubles. The ministry highlighted that the revenue loss from oil and natural gas in May surpassed their expectations. The decline in oil prices has led to a budget deficit of 3.2 trillion rubles from January to April. Additionally, the price of Brent crude oil has fallen more than 11% since the start of 2025, further impacting Russia's financial situation.