Combustion gases and steam rise from the chimneys of an oil refinery at sunset on a freezing day in the Siberian city of Omsk, Russia. February 8, 2023. REUTERS/Alexey Malgavko/File

He Russian federal budget had an income of 521.2 billion rubles ($6.95 billion) for the export of gas and oilAnd 46.3% less than in the same month of the previous year, according to data released today by the Russian Ministry of Finance.

However, the results for the second month of the year improved by 22.5% those of January, when the Russian oil and gas sector began to experience impact of western sanctions by the Russian military campaign in Ukraine.

According to the Ministry of Finance, last month the oil sector contributed to the budget from export duties and extraction taxes 532.1 billion rubles (about $9.1 billion)which represents an increase of 21.5% compared to January.

In these same sections, the Russian gas industry provided tax coffers 160 billion rubles (about $2.13 billion)And 28.1% more than January.

File image of activity at the Yuzhno Russkoye oil and gas field, some 200 kilometers from the Siberian town of Novy Urengoy, Russia. December 18, 2007. REUTERS/Denis Sinyakov/File
File image of activity at the Yuzhno Russkoye oil and gas field, some 200 kilometers from the Siberian town of Novy Urengoy, Russia. December 18, 2007. REUTERS/Denis Sinyakov/File

During the first two months of the year, Russia received a total of 946.770 million rubles (about $12.620 million)while in the same period of 2022 he received 1.76 trillion rubles (about $23.5 billion).

The Russian Finance Ministry acknowledged earlier this month that the average price of Russian-branded crude Urals in January and February of this year, it was reduced to $49.52 per barrel compared to the same months in 2022, before the start of the invasion of Ukraine, when the price was $88.89 per barrel.

On December 5, the European Union embargo (EU) to oil from Russia by sea, a move which coincided with the imposition by the EU, the G7 and Australia of a price cap of $60 a barrel of Russian crude.

In addition, on February 5, the EU, G7 and Australia also began applying maximum prices to Russian petroleum products; $100 per barrel of diesel and $40 per barrel for other derivatives.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin pose for cameras before a meeting in Beijing, China, February 4, 2022. (Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP, File)
Chinese President Xi Jinping and his Russian counterpart Vladimir Putin pose for cameras before a meeting in Beijing, China, February 4, 2022. (Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP, File)

In contrast, throughout 2022 gas supplies to China have been actively increasedas the Russian Deputy Prime Minister indicated last February, Alexander Novak.

Last year, Russia pumped 15,400 million cubic meters of gas to the Asian giant, an amount the official described as “historical maximumand underlined the potential for growth in exports to Asian countries, for which he put forward plans to diversify gas infrastructure.

“For this, Gazprom, by order of the president, is studying speed up the laying of the Far East route and also the Siberian Force 2“, a point.

Moscow and Beijing agreed a year ago to export 10,000 million cubic meters of gas via the Far East route, to which must be added the 50,000 million expected for the future Siberian Force 2 gas pipeline , which will cross Mongolia.

(With information from EFE)

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