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0 After a disastrous start to the year, the Russian budget finally got a reason for cautious optimism. June was the most successful month of 2026 in terms of additional oil and gas revenues: the Ministry of Finance estimated them at almost 210 billion rubles. The Treasury received significantly more funds than expected when calculating the budget.
According to the Russian Ministry of Finance, in June the country’s oil and gas revenues amounted to 683.6 billion rubles. This is the third largest monthly income this year, after April and May. However, the highest in terms of additional oil and gas revenues. They amounted to 209.6 billion rubles.
The Ministry of Finance, the budget did not receive nearly 570 billion rubles relative to the base level provided for by the budget rule.
The trend seemed to be getting alarming. Lower prices for Russian oil and a strong ruble reduced tax revenues, and the Ministry of Finance had to take into account negative additional oil and gas revenues.
However, already in the spring, when the Iranian war began and oil and gas prices went up, the situation began to change gradually.
In April, the negative dynamics almost disappeared, and in May and June the budget unexpectedly received almost 385 billion rubles of additional revenues. In total, in April—June, additional revenues exceeded 405 billion rubles.
This turned out to be enough to fully compensate for the losses of January and February. However, if we take into account the March recession, the budget still lacks about 160 billion rubles to fully recoup the losses of the first quarter.
At the same time, Russian oil prices are declining, as global raw materials have also begun to become cheaper due to the resumption of shipping in The Strait of Hormuz. The Ministry of Economic Development estimates the cost of Urals in June at $ 63.5 per barrel, while in April quotes reached $ 94.
And if the basic oil and gas revenues this June amounted to 474 billion rubles, then a year ago they exceeded 530 billion rubles.
It turns out an unusual situation: the oil and gas sector brings less basic income than a year ago, but the financial situation of the budget is improving at the same time. This is explained, obviously, by the fact that the actual receipts turned out to be significantly better than the conservative expectations of the Ministry of Finance. The peculiarities of the tax calendar, additional income tax receipts (NDT), as well as a more favorable situation on the gas market compared to the beginning of the year played a role.
At the same time, payments of the refinery damper continue to seriously reduce the country’s oil and gas revenues. In June — by 210.6 billion rubles. These are the largest payments to oil companies this year. They receive them as a subsidy for the difference between domestic and export prices for petroleum products.
