Russia's Oil and Gas Revenue to Rise 10% in October
Russia's federal budget revenue from oil and gas taxes is expected to increase by 10% year-on-year in October to reach 1 trillion rubles ($11.97 billion). This is primarily due to quarterly payments of the additional profit-based tax on oil production. Despite a 5% decline in production, global oil prices have soared due to Middle East conflicts, offsetting the decrease.13 sourcesSee all sources