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Proceeds from the sale of Russian oil fell by 1.6 times

This is the first such case in 12 years.

12.May.16 6:34 AM
By Andrey Shulga


Proceeds from the sale of Russian oil fell by 1.6 times
For the first 3 months of 2016, Russia's revenues from oil exports decreased in 1.6 times or 38% compared to the same period last year. This is indicated by data of the Federal customs service (FCS).

For the first quarter of this year, our country has sold oil worth $ 14,093 billion. Oil exports increased by 4.6% from 59.3 million to of 61.95 million tons. Despite the supply growth, revenue falls.

The lion's share of exported Russian oil goes to foreign countries. In General, these States received about 56 million tons of oil. Closer to the country we purchased 5.9 million tons of domestic "black gold".

In monetary terms, since that time, 2016, foreign countries bought our oil for a total amount of 13.1 billion dollars. Last year this amount was equal to 21.3 billion dollars.

Such declining revenues of the oil sector of Russia is not experienced in the past 12 years.

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