Russian Budget Gains 210 Billion Rubles in June Oil, Gas Windfall
Updated
Updated · EADaily · Jul 3
Russian Budget Gains 210 Billion Rubles in June Oil, Gas Windfall
3 articles · Updated · EADaily · Jul 3
Summary
June brought Russia 209.6 billion rubles in additional oil and gas revenue, the strongest such monthly gain of 2026, with total oil and gas receipts reaching 683.6 billion rubles.
Better-than-expected collections drove the surprise: the finance ministry cited tax-calendar effects, extra profit-tax receipts and a firmer gas market after spring price gains tied to the Iran war.
April through June generated more than 405 billion rubles in additional revenue, enough to erase January-February losses, though the budget still remains about 160 billion rubles short of fully offsetting the first quarter.
Urals crude still averaged only $63.5 a barrel in June versus $94 in April, and base oil-and-gas revenue fell below a year earlier, showing the budget improved even as underlying commodity income weakened.
A 210.6 billion-ruble refinery damper subsidy—the largest this year—continued to drain receipts, while cheaper global oil after shipping resumed through the Strait of Hormuz threatens the recent rebound.