
Russia's Oil and Gas Revenues Plummet 45% in Q1, Budget Deficit Exceeds Target
Russia's oil and gas revenues saw a significant 45.4% decline in the first quarter of 2026 compared to the previous year, leading its budget deficit to surpass the full-year target.
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Russia’s Federal Budget Deficit Blows Past Annual Target in Just 3 Months
The staggering shortfall was underscored by a sharp decline in energy tax receipts and a double-digit spike in government spending.
Read full article →Russia’s oil and gas revenues fall 45% in first quarter as budget deficit exceeds full-year target
Russia’s oil and gas revenues dropped 45.4 percent in the first quarter of 2026 compared with the same period a year earlier, the Finance Ministry reported.
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