Oil and gas revenues for the Russian budget in July amounted to 934…
Oil and gas revenues for the Russian budget in July amounted to 934 billion rubles — 18.6% more than in July 2025 (787.3 billion), according to Ministry of Finance data.
Consensus
- The Russian federal budget has been providing subsidies to oil companies since April 2026.
- Oil and gas revenues for July 2026 were higher than in July 2025.
- The Russian government recorded additional oil and gas revenues in July 2026, primarily due to a quarterly tax on additional income (НДД).
- Subsidies to oil companies in July 2026 increased compared to July 2025.
- The total amount of subsidies paid from April to July 2026 reached 1.221 trillion rubles.
- Oil refining capacity in Russia declined significantly, with multiple refineries either fully or partially offline as of late July 2026.
- The volume of oil refining in Russia dropped to a minimum since 2002, at 3.6 million barrels per day.
Points of divergence
- The total subsidies paid from April to July 2024 amounted to 1.221 trillion rubles. — tg_moscowtimes_ru
- The federal budget received additional oil and gas revenues of 291 billion rubles in July 2026. — kommersant
- The federal budget received 934 billion rubles in oil and gas revenues in July 2024, with a 19% year-on-year increase. — thebell
- At least 8 out of 18 attacked refineries stopped production, including Omsk, Ryazan, and Nizhny Novgorod refineries. — tg_moscowtimes_ru
- The increase in oil and gas revenues in July was due to a calendar effect from a quarterly tax, not actual market improvement. — kommersant
- Excluding the additional income tax, 'clean' oil and gas revenues in July were only 11% higher than in July 2024. — thebell
- The budget deficit for the first half of 2026 was 5.7 trillion rubles, with a projected increase to 7 trillion by December. — tg_moscowtimes_ru
- Oil and gas revenues for January–July 2026 were 17% below the same period in 2025. — kommersant
- Oil and gas revenues for January–July 21026 were 16.8% below the same period in 2015. — thebell
Coverage (3 sources)
- Attacks on refineries cost the Russian budget 1.2 trillion rubles — The Moscow Times
- Oil and gas revenues of the Russian Federation for January-July lag behind last year's figures by 17% — Коммерсантъ
- Russia's oil and gas revenues grew by almost 19% in July compared to the previous year — The Bell