Russia's oil and gas revenue down 43% y/y in March, finance ministry says

Moscow: ​Russian state oil and gas revenues declined in March by 43% to 617 billion roubles ($7.72 billion) from the same ‌month ⁠a year ⁠ago, according to finance ministry data published on ​Friday, due to lower oil prices and a stronger rouble.

Oil ​and gas revenues are crucial for Russia's state budget, which ran a deficit of 5.6 ​trillion roubles or 2.6% ⁠of gross domestic ‌product in 2025 amid high ​military spendings. ​The revenue accounts for around a ⁠quarter of total budget proceeds.

Revenue rose from ​432.3 billion roubles in February.


Also Read: India’s Russian oil imports surge 90% amid Hormuz disruption

The revenues are based on payments made by Russian companies by March 30 and relate to production in February, before the global oil prices surged due to the US-Israeli ‌war in Iran. The proceeds are expected to increase starting from April.

In the ​first quarter ​of the ⁠year, the revenue reached 1.44 trillion roubles, down 45% from the same period in 2025.

The budget ​forecasts income of 8.92 trillion roubles from oil and gas sales this year, while the pace of proceeds is now behind this goal.