Latest news with #rubles
Bloomberg
03-07-2025
- Business
- Bloomberg
Crude's Drop, Strong Ruble Cut Russian Oil Revenue to 2-Year Low
Russia's oil revenue in June slumped to a two-year low as global crude prices fell and the ruble strengthened, meaning each barrel brought fewer rubles to the Kremlin. Proceeds from the oil industry shrank by almost 30% to 415.6 billion rubles ($5.27 billion), according to Bloomberg calculations based on Finance Ministry data published Thursday. That's the lowest since June 2023.
Bloomberg
04-06-2025
- Business
- Bloomberg
Russia's Rainy-Day Fund Lost Around $6 Billion in May
Liquid assets in Russia's National Wealth Fund, the country's rainy-day reserves, declined by 14% in May, as increasing spending on the war in Ukraine and falling oil prices squeeze the budget. The fund's readily usable resources declined to 2.8 trillion rubles ($35.7 billion) in the month, the Finance Ministry said on Wednesday. That's a loss of 453.8 billion rubles ($5.8 billion) available for budget deficit financing.
