Russia Confirms Increase in Fossil Fuel Revenue | New


Vladimir Putin, during a meeting with the head of the Federal Finance Service, Daniil Yegorov, indicated on Thursday that “despite the problems that our detractors and envious people try to create for us, even so, the increase in the budget is progressing at a adequate pace, oil and gas revenues are increasing.”

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The Russian president pointed out that “the most pleasant thing is that non-oil and gas revenues have also increased lately, as far as I know, by 24%”. Putin believes that these data confirm the stabilization of Russia’s economic indicators. However, he acknowledged that there are risks that have not gone away in the medium term.

On the other hand, Daniil Yegorov revealed that Russia’s consolidated budget had increased by 32% in the first half of 2022, adding that revenues from the sale of gas and oil and high prices of hydrocarbons had contributed to the growth of financial resources of Russia.

This news comes as the United States, the European Union (EU) and other Western states and organizations have imposed several sets of sanctions against Russian gas and oil in response to Moscow’s military operation in Ukraine. to demilitarize and denazify the Slavic country.

On August 21, the Russian President said that the West would be the party most harmed by anti-Russian sanctions, since the globalized economy in which the world is developing prevents the exclusion of a country or a specific market of the productive sphere.


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