Russia's oil and gas revenues more than doubled in October

In the statement made by the Russian Ministry of Finance, it was stated that oil and natural gas revenues were 452.4 billion rubles in September and 424 billion rubles in August.

In the statement, it was stated that 1 trillion 122.6 billion rubles were collected from mining tax and 358.6 billion rubles from additional income tax in October, and net oil and natural gas revenues were recorded as 971.2 billion rubles after payments to oil companies and other offsets.

The country's oil and natural gas revenues decreased by 14.07 percent in the January-October period compared to the same period last year, falling to 6.44 trillion rubles.

On the other hand, the payments made by the Russian government to oil companies in order to balance fuel prices in the domestic market increased from 305.5 billion rubles to 415 billion rubles in October compared to the previous month.

Within the scope of the mechanism implemented in Russia, it is aimed to balance domestic fuel prices by making payments to companies from the budget if the export prices of petroleum products exceed the domestic market prices.