Revenue from Russian Oil and Gas Falls by 36%

The Russian Ministry of Finance indicated today, Monday, that "federal budget revenues from the oil and gas sector declined by 36% in May compared to the same month last year and by 12% from April, due to a decrease in the oil profit tax." The decline in oil income is likely to exacerbate the high budget deficit, as Russia continues what it calls its special military operation in Ukraine. Oil profit tax revenues fell to 5.4 billion rubles in May from 185.4 billion in April.