OREANDA-NEWS  According to the results of last year, oil and gas revenues of the federal budget increased by 26.2% to 11.131 trillion rubles, according to materials on the website of the Ministry of Finance of Russia.

"Oil and gas revenues amounted to 11,131 billion rubles, exceeding the figures for the same period of the previous year by 26.2% yoy. Oil and gas revenues steadily exceeded their base level during the year, and as a result, additional oil and gas revenues amounted to 1,300 billion rubles," the text says.

As for non-oil and gas revenues, they increased by 26.0% YoY and amounted to 25,576 billion rubles. It is noted that by the end of 2024, the volume of such revenues significantly exceeded the estimates laid down during the formation of the 2025-2027 budget law, including in terms of the largest tax sources (turnover taxes).

"This forms a stable basis for further outstripping the dynamics of the corresponding incomes," the documents indicate.

After the start of the special operation in Ukraine, Western countries imposed many sanctions against Russia, aimed, among other things, at reducing revenues from the sale of energy resources.

In particular, since December 5, 2022, the European Union has stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU have imposed a price limit for it at sea at $ 60 per barrel — it is prohibited to transport and insure more expensive fuel. A similar measure has been in effect for petroleum products since February 5, 2023.

Since February 1 of the same year, Russia has banned the supply of oil and petroleum products to foreign buyers if the contracts directly or indirectly provide for the use of a mechanism for fixing the marginal price.