Russia Pays $2.8 Billion to Refiners in May as Subsidies Jump Nearly Fivefold
Updated
Updated · Bloomberg · Jun 3
Russia Pays $2.8 Billion to Refiners in May as Subsidies Jump Nearly Fivefold
1 articles · Updated · Bloomberg · Jun 3
Summary
204.3 billion rubles ($2.8 billion) went to Russian oil processors in May, one of the highest monthly refinery subsidy payouts in more than two years.
That payment was almost five times May 2025 levels and only slightly below April’s 207.5 billion rubles, which marked the highest monthly payout since December 2023.
The surge is cutting into Russia’s oil and gas revenues even as the war in Iran has lifted crude prices, blunting what would otherwise be a stronger boost to state income.