Russia's oil and gas budget revenues to rise by 38% in April – Reuters

The Russian Federation’s federal budget revenues from oil and gas in April 2026 will increase by 0.23 trillion rubles compared to March, reaching 0.85 trillion rubles. The expected growth in oil and gas revenues, which account for one-fifth of the aggressor’s state treasury, is linked to a sharp spike in global fuel prices due to the war in the Middle East. 

Reuters reports this, noting that despite the monthly increase, tax revenues will remain 22% lower than in April 2025.

The main factor contributing to the Russian Federation’s budget in April will be the mineral extraction tax (MET), the volume of which could rise by 91%—to 0.4 trillion rubles. This is due to an increase in the estimated tax price of Russian oil, which reached $77 per barrel in March compared to $44.59 in February. April revenues could be the highest for the aggressor in the past six months, allowing Russia to continue funding military expenditures.

Russian tankers in the “shadow fleet” use insurance certificates from non-existent companies to circumvent international sanctions and transport oil. 

As a reminder, France plans to significantly increase penalties for ship owners and operators who use false flags or ignore orders to stop.