According to the statement made by the Ministry of Finance of Russia, 44 billion rubles less revenue will be obtained from oil and natural gas exports in June than expected.
In the statement, it was noted that the country’s oil and natural gas export revenues in May decreased by 36 percent compared to the same period of the previous year, to 570.7 billion rubles, and the revenues in the said period decreased by 12 percent compared to April.
While Russia’s budget had a deficit of 3.3 trillion rubles last year due to the sanctions, the Russian Ministry of Finance is selling yuan and gold from its reserves to close the budget deficit.
