In July, Russian oil revenues decreased by a third of the year by the year

In July, the revenues of the Russian budget from oil were reduced by a third compared to the same month of 2024, Bloomberg calculated based on the data of the Ministry of Finance published in Tuesday. Revenues from oil taxes per month amounted to 710 billion rubles - this is almost 33% less than in July 2024. This happened against the backdrop of the fall of world oil prices and the strengthening of the ruble. Total oil and gas revenues decreased by 27%, to 787 billion rubles.

Compared to June 2025, oil revenues, on the contrary, increased by almost 71%. This is mainly due to the characteristics of the tax system: the company's income tax is paid quarterly, and July was just a month of payment. Also in July, the government reduced subsidies to processors. In July, 59.9 billion rubles were allocated from the budget for these purposes - 58 % less than a year ago.

Trump linked a decrease in oil prices with the cessation of war

Meanwhile, Donald Trump on the air of CNBC said that a decrease in world oil prices could force Vladimir Putin to stop the war in Ukraine. “If energy carriers are cheaper enough, Putin will stop killing people,” he said. “If oil is cheaper for $ 10 per barrel, he will have no choice - his economy is already on the verge.” Trump also confirmed the intention to “significantly” increase duties for India due to purchases of Russian oil. According to him, the new bet will be announced in the next 24 hours.