Russia's Oil Prices Hit 3-Year Low Amid Sanctions
Russian government data revealed a significant drop in the indicative price of oil used for calculating taxes, reaching the lowest level since May 2020. This decline in prices has led to a decrease in state energy revenue, potentially hitting the lowest point since 2020 by the end of 2025.
- Country:
- Russia
The indicative price of oil, crucial for Russian government tax calculations, plummeted to its lowest since May 2020, according to government data released Tuesday. This signals a significant decline in state energy revenue.
Between January and November 2025, state energy revenue fell by 22%, with projections indicating it may hit the lowest annual level since 2020. December's indicative price is expected to drop to $39 a barrel, further exacerbating the revenue shortfall.
The economy ministry highlights a decrease from $55.60 in 2025 to $67.90 per barrel in 2024. Despite a budget forecast of $59 for 2026, Western sanctions continue to drive international discounts on Russian oil.
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