Russia's revenues from oil and natural gas fell by 50.1% in January compared to the same period last year, totaling 393 billion rubles. The decline reflects the ongoing impact of international restrictions on Moscow's primary export commodities.
According to the Operative Information Center-OMM, citing Russian media reports, the decrease is attributed to lower global oil prices and the strengthening of the ruble against foreign currencies. Officials noted that the loss of revenue in the energy sector was more significant than initially projected for the first month of the year.
The revenue slump comes as Western nations continue to enforce large-scale sanctions. The G7 and European Union (EU) implemented an import ban on Russian seaborne oil and a $60-per-barrel price cap on December 5, 2022. Under these rules, companies in G7 and EU nations are prohibited from providing transport, insurance, and brokerage services unless the oil is sold below the cap. In July 2025, this price ceiling was further reduced to $47.6 per barrel. In response, Russia has attempted to pivot its energy exports toward alternative markets, particularly in Asia, to maintain its market share.
