“Russia's revenues from oil and gas in June amounted to $ 6.29 billion to the lowest level since January 2023” – writes Bloomberg. Calculates that per year, the congress is at the level of 33.7 percent.
The agency points out that the decrease in global oil prices and strengthening of the ruble reduces the profitability of oil and oil companies and burden the federal budget of Russia. About a third of income comes from oil and gas taxes.
The Russian authorities calculated the June revenues of Russia from crude oil based on the Ural oil price in May, which was $ 52.08. for a barrel. It is The lowest price of a key export species of this country from March 2023.
See also: Minister of Economy of Russia: The economy is on the brink of recession
On the other hand, the ruble strengthened. However, this reduces incentives to export. A stronger currency means that Russia and its oil producers receive fewer rubles for each raw material barrel.
Russia on the edge of the banking crisis
The budget and revenues from raw materials are not the only problem. The current and former representatives of the banking sector in Russia describe the situation in the country as dangerous. They indicate a serious risk of spreading the debt crisis. Bloomberg's informants suggest that bad debts reach a trillion of rubles.
One of the forecasts showed that the portfolio of corporate loans of Russian banks in the first two months of 2025 decreased by 1.5 trillion of rubles ($ 19 billion).
“Voltage in the banking system can raise wider questions about the ability of President Vladimir Putin to continue Russia's war in Ukraine, which has been going on for the fourth year, especially if Kiev allies from the USA and Europe impose more severe sanctions on the Russian financial sector,” reads.
