Russia’s key oil tax revenue is set to reach $9 billion in April, nearly doubling month-on-month, driven by a sharp rise in global energy prices.
The increase follows severe disruptions in oil flows, pushing benchmarks above $100 per barrel and triggering heightened volatility across energy markets.
A major supply route handling roughly one-fifth of global oil and LNG shipments has been impacted, tightening availability and accelerating price gains.
Russia’s mineral extraction tax, its primary oil revenue stream, is projected to climb to 700 billion roubles from 327 billion in March.
This figure also represents a year-on-year increase, supported by stronger crude prices and resilient production levels.
The average price of Russia’s Urals crude surged to $77 per barrel in March, significantly exceeding budget assumptions.
Officials report rising global demand for Russian energy exports, reinforcing the country’s position as a critical supplier during market instability.
Despite the revenue boost, analysts warn of ongoing fiscal pressures, with deficits and infrastructure challenges potentially limiting long-term gains.
