Russian oil and gas revenues are poised to slump by 35% this month from a year earlier as the price of Russia’s crude has plunged and the local currency strengthened. Russia’s budget is expected to receive $6.63 billion (520 Russian billion rubles) from oil and gas in November, a decline of 35% compared to the same month of 2024, Reuters calculations showed on Monday. Oil and gas revenues make up the single largest budget income item for the Russian Federation, which relies on these revenues for heavy spending on its war…
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