Posted on 05/06/2025 4:42:03 AM PDT by marcusmaximus
Russia's oil price in roubles has fallen to a two-year low below the 4,000 rouble per barrel mark and some 40% lower than planned in the federal budget, data showed, piling pressure on the Kremlin, already saddled with a burgeoning budget deficit.
-snip-
According to Reuters calculations, the average price of Russia's mix of Urals and ESPO blends dipped on May 2 to $48.92 per barrel, or 3,987 roubles, which is more than 40% below the 6,726 roubles the government had originally planned for this year.
That's the lowest since May 2023, according to Reuters data.
It is also still well below the recently downgraded government forecast of 5,281 roubles per barrel for the Russian oil blend, used for taxation.
-snip-
The fall in the prices of energy, which account for a third of Russia's federal budget proceeds, prompted the government last week to hike the 2025 budget deficit estimate to 1.7% of gross domestic product from 0.5% for 2025.
The move came after it reduced the energy revenues forecast by 24% due to expectations of a prolonged period of low oil prices.
Russia already hiked state spending on national defence by a quarter in 2025 to 6.3% of gross domestic product (GDP), the highest level since the Cold War, as the country continues its war in Ukraine, now in its fourth year.
(Excerpt) Read more at uk.finance.yahoo.com ...
Haven’t seen you in a while. Where ya been? Did you go to the conference in Sochi?
It is amusing that the theme of Reuters as republished through Yahoo is a replay from previous such "analysis."
One recalls:
Biden mocked the ruble as "rubble." But the Russian currency has rebounded. CBS News, 8 April 2022BidenusBillious, while no longer in the Oval Office, has his amanuensis hardly hard at work today, through a lookalike focus on posting the same thing reworded.The Ruble Has Bounced Back. What Does That Mean? NY Times, 4 April 2022
Can the U.S. really reduce the Russian ruble to rubble? NBC News, 9 April 2022
Mocked as 'Rubble' by Biden, Russia's Ruble Roars Back Financial Post / Bloomberg, 7 April 2022
The Ukraine-Russia war will conclude when and how it concludes, and until that time, there is no conclusion. Time will tell.
Разом до рівності та перемоги Kyiv Pride, 2025
KyivPride March 2025 Passport Magazine 2025
Trump wants Peace, why don't you?
LOL! I'll bet you're a big fan of Socks.
Slobbo UrKrayknee!!
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