**Russia’s Oil and Gas Revenue Drops**
Russia’s budget revenue from oil and gas trade in February was lower than expected. The country made 771.3 billion rubles ($8.6 billion) from these sales, a decrease of 18% compared to the same period last year.
**Impact of Western Sanctions**
The drop in oil and gas revenue is partly due to Western sanctions imposed on Russia since 2022. These restrictions have targeted Russia’s energy industry and its ability to export fossil fuels.
**Russia’s War Economy**
Oil and gas exports are crucial for sustaining Russia’s war economy, which has been impacted by the full-scale war against Ukraine. Last year, these exports made up about 30% of Russia’s federal revenue.
**Sanctions Relief Uncertain**
The future of sanctions against Russia is uncertain as the new US administration considers offering sanctions relief as part of peace efforts in Ukraine.
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