Russian budget revenues from oil and gas amounted to RUB 4.157 trillion in the first four months of 2024, an increase of 82% compared with the same period in 2023.
This was reported by the CFTS portal, citing the Interfax news agency.
"The accumulation of additional oil and gas revenues during periods of favorable price conditions and the use of the funds from the National Wealth Fund resources to cover shortfalls in oil and gas revenues in accordance with the parameters of the ‘budget rule’ ensures the stability of the budget system against fluctuations in oil and gas revenue inflows," the Russian Ministry of Finance said in a statement.
According to the report, Russia's budget revenues from oil and gas exceeded the baseline for the third consecutive month, amounting to RUB 1.229 trillion in April.
As reported earlier, the new package of EU sanctions against Russia will include bans on the fleet of tankers transporting Russian crude oil in violation of the previously imposed restrictions.
As the CFTS portal reported previously, despite the sanctions and restrictions imposed by Western countries, Russian seaports increased cargo transshipment by 5% to 883.8 million tons in 2023, compared with 2022.
Crude oil and petroleum products account for a significant share of Russia's maritime exports, which help to finance its war of aggression against Ukraine. For example, From the introduction of the EU mechanism for capping the price of seaborne Russian crude oil and petroleum products in December 2022 until the end of February 2024, about 11.4 million tons (or 82.9 million barrels) of Russian crude oil were delivered from Russian Black Sea ports to ports and transshipment points in the EU. An additional 10.6 million tons were shipped from the Black Sea to the EU as petroleum products.
In connection with this, the EU has announced that its 14th package of sanctions against Russia will likely include new restrictions on Russia in the maritime sector.
