Russian oil and gas tax revenue expected to drop forty six percent in January
Russia's oil and gas tax revenue is projected to fall forty six percent in January 2026. This sharp decline creates a fiscal constraint on the federal budget.
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Russia 
RUis expected to see its federal budget proceeds from oil and gas taxes drop 46 percent in January 2026 compared to the same month last year. This sharp decline brings the projected revenue to approximately 420 billion roubles, or about $5.41 billion, which marks the lowest monthly tax revenue from the energy sector since August 2020. During that period, revenue levels were heavily depressed due to the global COVID-19 pandemic crippling fuel demand. These tax receipts are significant as they constitute approximately one-quarter of the federal budget revenues for Russiaand directly fund the military campaign in Ukraine.
RUis expected to see its federal budget proceeds from oil and gas taxes drop 46 percent in January 2026 compared to the same month last year. This sharp decline brings the projected revenue to approximately 420 billion roubles, or about $5.41 billion, which marks the lowest monthly tax revenue from the energy sector since August 2020. During that period, revenue levels were heavily depressed due to the global COVID-19 pandemic crippling fuel demand. These tax receipts are significant as they constitute approximately one-quarter of the federal budget revenues for Russiaand directly fund the military campaign in Ukraine.
