Russia's Oil Revenue Decreased

There was a decrease in the oil income of Russia, which experienced an increase in coronavirus cases and faced economic difficulties due to the epidemic. According to data released by the Russian Federal Customs Service, the volume of oil exports in the country decreased by 3 percent compared to the same period last year, to 104.9 million tons in the first 5 months of the year. Russia's oil exports fell 33 percent to $ 33.7 billion in the January-May period compared to the same period last year. The country's revenue from oil exports fell by 6 percent in 2019 compared to the previous year and fell to $ 121 billion. Oil and gas exports are very important for Russia. The revenue generated here accounts for about 40 percent of the country's federal budget.