After falling in July by 26% year-on-year, federal budget revenues fell by 11% in August, thus showing a negative trend for the second month in a row. At the same time, both oil and gas revenues and non-oil and gas revenues are declining, RBC reported, citing available data from the Ministry of Finance.

The August figures are preliminary and may be revised later on, but the situation will not change significantly. Oil and gas revenues in August decreased by 3.4%, to 671.9 billion rubles, which was the lowest since June 2021. First and foremost, they were affected by the drop in receipts of tax on additional income from production.

Non-oil and gas revenues fell harder - by 14 percent, to 1.157 trillion rubles. VAT collections on imported goods decreased by 26 percent, which is associated with a drop in the supply of goods from abroad to Russia.