Russia simply cut pumping for 0.5 mln barrels per day. Reason she doesn’t need so much foreign cash because she diminished her import too. That is a main reason of diminishing oil-gas revenues.
In previous years she just stored extra cash in foreign accounts but today it is NOT wise anymore. So all these mean that the trades with foreign countries go down. Less export means less import from Europe for example.
But GDP of Russia will go up this year 2.5%. How so? Because instead of importing Russia began to make their own production.
Oil is down 50%. That’s the reason Russian oil revenues are down 50%.
And that doesn’t include the 30% discount to China and India.