Russian oil, natural gas revenues down 24% in 2025

​​​​​​​By Emre Gurkan Abay

MOSCOW (AA) - Russia's oil and natural gas revenues fell 24% in 2025 compared to the previous year, dropping to 8.5 trillion rubles ($108.2 billion), the Ministry of Finance reported Thursday.

Energy export revenues fell due to lower oil prices and the ruble's appreciation against foreign currencies, the ministry stated.

While Western countries impose comprehensive sanctions on the Russian oil and natural gas sector, Russia is trying to increase its share in alternative markets, primarily Asia, for energy exports.

G7 and European Union countries' ban on imports of Russian oil transported by sea and the decision to cap the price at $60 per barrel took effect Dec. 5, 2022.

Under the framework, if Russian oil is sold to third countries at a price higher than that price, companies in the G7 and EU countries cannot provide services such as transportation, insurance and brokerage for the oil.

For the services to be provided, Russian oil must be traded below the price cap.

The price cap was lowered to $47.6 in July.