Russian oil and gas revenue has recently dropped by 27%, leading to a significant budget deficit of 3.7 trillion rubles for the first half of the year. The EU's latest sanctions package introduces a flexible price cap on Russian oil that curbs revenues. Additionally, Trump is imposing a 25% tariff on India for importing Russian oil, threatening to raise it further. India's government asserts that its energy imports focus on providing stable and affordable energy for its consumers, amidst external pressures.
In July, Russian oil and gas revenues fell 27%, totaling 787.3 billion rubles, or $9.8 billion, straining the budget which posted a 3.7 trillion ruble deficit.
The EU's 18th sanctions package introduced a flexible price cap limiting Russian oil prices to 15% below global market averages, significantly reducing revenues for Moscow.
Trump announced a 25% tariff on Indian goods, targeting its purchases of Russian oil, and indicated he might raise this rate further to pressure India.
India's government stated that its energy imports aim to secure predictable and affordable energy costs for its consumers, countering U.S. trade threats.
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