Russia’s Oil and Gas Revenues Surged by 73.5% in January-May

Russia’s budget revenues from oil and gas soared by 73.5% in January-May of 2024 compared to the first five months of 2023, according to data from Russia’s finance ministry released on Monday. Between January and May 2024, the revenues for the Russian federal budget from oil and gas hit $55.7 billion (4.95 trillion Russian rubles), per the data reported by Russian news agency TASS. “In line with parameters of the socioeconomic outlook, a steady surplus of oil and gas revenues above their base level is also expected in months…