Oil and gas revenues of the Russian budget collapsed to a minimum in 2.5 years.

In May, the Russian budget received 34% less in oil and gas taxes compared to the previous year. This is the lowest figure since the beginning of 2023. Revenues from oil companies decreased by 32%, and from gas companies – by half.

The government decided to cut spending on civilian programs. For instance, the industrial development program lost 100 billion rubles in funding, and science lost 22 billion. If oil prices continue to decline, the government intends to take additional measures to reduce spending from 2026.

The decrease in oil and gas prices has severely impacted the Russian budget, leading to the need for government spending cuts on various programs. If the price situation does not improve, additional budget-saving measures may be implemented in the future.