Four years into war, Russia’s energy revenues drop but oil keeps flowing

Russia’s revenue from oil and gas exports declined over the past year, despite an increase in oil export volumes, data showed on Tuesday. This trend comes four years after Moscow launched its full-scale invasion of Ukraine. The report highlighted that although Russia managed to maintain or grow the amount of oil it sent abroad, the overall income from those shipments fell during the last 12 months. Meanwhile, global factors affecting energy prices have influenced the earnings decline. The energy sector remains a key part of Russia’s economy, but revenue shortfalls could indicate challenges in pricing or market access. The findings were released on the war’s fourth anniversary, underscoring the long-term economic impacts of geopolitical tensions.