Oil and gas revenues of the treasury grew by 26% last year compared to 2023 and amounted to 11.1 trillion rubles, according to data on the execution of the federal budget published by the Ministry of Finance, which was noted by the telegram channel Faridaily.
This is the second result in modern Russian history, slightly more — 11.5 trillion rubles — the Russian budget received in 2022, when due to the start of a full-scale invasion, oil prices rose above $100 per barrel for several months.
Last year, a barrel of Brent cost on average about $80. Although this price is lower than in the previous two years, it is quite comfortable for the Russian budget. The Kremlin was not hindered in collecting almost record oil and gas revenues by the price cap, which is in effect against Russian oil and oil products, and sanctions.
The total volume of revenues in December — more than 4 trillion rubles — increased by 28% compared to the same month of the previous year, despite American sanctions against the banking sector, noted Bloomderg. This is a record since January 2011.