Russia Oil and Gas Revenue Rises 32 Percent in May
Russia reported a 32.4 percent annual rise in oil and gas revenue for May, reaching 678.9 billion roubles. Higher prices offset a monthly decline from April.
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Russia saw its oil and gas tax revenue rise 32.4% year-on-year to 678.9 billion roubles ($9.3 billion) in May. The surge follows a global price rally in Brent Crude Oil triggered by conflict in the Middle East. For investors, the data confirms the continued ability of Russia to fund its military campaign despite international sanctions.
