Russia’s consolidated budget recorded a 60% year-on-year increase in revenues from oil and gas exports in July 2026, according to reports citing federal Treasury data.
The surge in energy receipts marks a significant recovery for the Kremlin’s primary fiscal pillar, driven by higher export volumes and stabilized global prices.
33% increase from the previous month, according to International Energy Agency data.
The jump in revenue follows a period of volatility in global energy markets.
Brent crude prices had retreated to pre-war lows in early July as shipping routes through the Strait of Hormuz normalized, easing the supply fears that had previously supported higher benchmarks.
Despite the lower price environment compared to peak disruption levels, the volume of Russian oil and petroleum product exports remained robust, reaching 7.71 million barrels per day in June, a 5.33% increase from the previous month, according to International Energy Agency data.
This monthly spike in energy income complements broader fiscal trends for the Russian budget.