He declared Russian Minister of Finance Anton Siluanov said that Russia is gradually reducing its dependence on oil and gas revenues, expecting these revenues to constitute less than 20% of the budget in 2026.
The Russian minister said in an interview with Russia 24 Channel on Wednesday: “We tend less and less to rely on hydrocarbons and oil and gas revenues, and the share of these revenues this year will be less than 20 percent.”
Russia has been working for years to diversify the economy and reduce dependence on energy resources. For the year 2025, preliminary estimates showed that the total revenues of the Russian budget last year amounted to about 37.284 trillion rubles (about 484 billion dollars), of which 28.807 trillion rubles (about 77%) were non-oil and gas revenues, while oil and gas revenues amounted to 8.477 trillion rubles.
