... exemptions from the embargo on these resources. “In this context, the base scenario forecasts a potential reduction of Russian pipeline exports to the EU by 2–3 billion cubic meters directed to countries outside Slovakia and Hungary,” he noted. In 2025, according to the adjusted plan, Russia is expected to receive only 8.3 trillion rubles in oil and gas revenues, compared to 11.1 trillion rubles in 2024. However, this will be due not to a decrease in supplies to the EU, which are already at minimal ...

... 2024, the share of oil and gas revenues in the budget may exceed the planned level due to narrowing price discounts on Russian oil compared to global benchmarks. Experts estimate that the share could reach 32% by year-end. However, the draft budget for 2025–2027 projects a gradual decline in oil and gas revenues, from 11.3 trillion rubles in 2024 to 9.8 trillion rubles in 2027. At the same time, total budget revenues are expected to grow, driven by non-oil and gas revenues. This decline is partly ...

... will bring. If temperatures drop significantly, prices could stay elevated or spike. Ukrainian Transit Risks Another major factor is the uncertainty surrounding gas transit through Ukraine, especially with the transit agreement expiring in January 2025. Market players are already buying futures to hedge against potential disruptions. Asian Competition Intense competition with Asian buyers for LNG also affects prices. “If Asian demand rises, they can outbid Europe for LNG supplies, forcing ...

... Ministry of Energy opposed such actions, believing that there was no need for them, as the market's demand for petroleum products was fully satisfied. Why the Export Ban? The introduction of a temporary ban on gasoline exports from Russia in August 2025 relates to a combination of factors that occur annually and invariably lead to rising fuel prices domestically: scheduled repairs at refineries, seasonal increases in demand from motorists and the agricultural sector, as well as spikes in stock prices,...

... рынка в Европе. Второй фактор – это неопределенность с украинским транзитом из-за боевых действий и окончания транзитного договора с января 2025 года. «Газовые фьючерсы надо купить сейчас, чтобы потом, если транзит через Украину прекратится, можно было продать эти фьючерсы и заработать ...