News wire — Proceeds from oil and gas sales for Russia’s federal budget in 2024 jumped by more than 26% to 11.13 trillion roubles ($108.22 billion).
Oil and gas revenues have been the most important source of cash for the Kremlin, accounting for about a third to a half of total federal budget proceeds over the past decade.
In 2023, weaker oil prices and a fall in gas exports reduced revenue by 24%.
($1 = 102.8500 roubles)
Reporting by Darya Korsunskaya and Vladimir Soldatkin Editing by Gareth Jones – Reuters
