The Russian Ministry of Finance announced on Thursday that the cumulative revenues of the oil and gas sector during the first eight months of the current year amounted to $54 billion, a decrease of 16% compared to the same period last year.
The Russian Ministry of Finance said in a press release that the decline in revenues during the period occurred before the start of the current rise in oil prices reflecting on the state's general budget revenue, meaning that the impact of the price improvement has not yet fully appeared in the sector's revenue
