The Russian Ministry of Finance announced that revenues from the Russian gas and oil budget in March 2023 increased by 90% compared to revenues for the same month in 2024. These revenues reached 1.31 trillion rubles.

Bloomberg News said that the main reason for this rise is due to the increase in oil and gas taxes by 86% in March.

Statistics revealed that oil and gas revenues in March were the highest in five months. Which means increasing Russia's financial treasury in terms of financing the war militarily in its confrontation with Russia.

The Russian oil and gas budget increased coinciding with the rise in the price of Russian Urals crude, which averaged $47.85 in March 2023, after European sanctions on Russian oil. However, after Russia’s attempts with the help of the Shadow Fleet, it was able to raise the price of a barrel of oil to $68.34 per barrel in March 2024. .

On the other hand, Russia increased oil extraction tax revenues by 88% in March 2024, reaching 803 billion rubles.