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Story summary
- In December 2025, Russia's oil and gas revenue is projected at about 410 billion rubles ($5.17 billion), roughly half of last December.
- The decline is driven by lower global oil prices and a stronger ruble, marking the lowest monthly revenue since 2020.
- For the year, revenues are forecast at 8.44 trillion rubles ($105 billion), down about 25% from 2024, with analysts warning of further risks in 2026.
