Reuters projects a 60% jump in Russia’s July oil and gas revenue

Russia's oil and gas revenue is projected to jump sixty percent this July compared to last year, according to Reuters calculations reported by Meduza. Rising global oil prices are the primary driver, with steeper extraction profit taxes also contributing. The surge represents a sharp reversal from 2025, when oil and gas revenue plummeted twenty-four percent to eight point four eight trillion rubles—the lowest level since 2020.

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