Russia's oil, gas revenues down 35% in May

​​​​​​​By Emre Gurkan Abay and Mucahithan Avcioglu

MOSCOW/ISTANBUL (AA) - The Russian Finance Ministry reported Wednesday that oil and natural gas revenues fell 35.4% in May, compared to the same month last year, to 512.7 billion rubles ($6.5 billion).

In the first five months of 2025, they dropped 37.4% to 4.24 trillion rubles.

The ministry said there was more revenue loss from oil and natural gas in May than planned.

With falling oil prices in Russia, the budget had a deficit of 3.2 trillion rubles from January - April.

The price of Brent crude oil has declined more than 11% since the beginning of 2025.