Key insights
- Russian oil and gas revenues fell 43% YoY in March due to lower oil prices and a stronger rouble. This impacts Russia's budget, which already has a significant deficit due to high military spending. While not a direct driver, persistent weakness in Russian energy revenues could indirectly affect global energy markets and geopolitical stability, creating a slight negative influence on US equities.
Investing.com -- Russian state oil and gas revenues declined 43% in March to 617 billion roubles ($7.72 billion) compared to the same month last year, according to finance ministry data published on Friday.
The drop was attributed to lower oil prices and a stronger rouble, the ministry said.
Oil and gas revenues account for around a quarter of Russia’s total budget proceeds and are crucial for the state budget. The country’s budget ran a deficit of 5.6 trillion roubles, or 2.6% of gross domestic product, in 2025 amid high military spending.
March revenues increased from 432.3 billion roubles recorded in February.
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