Cheap oil deprives Russia of almost half of its revenues from exports

Due to low energy prices, Russian oil export revenues declined up to $ 89.576 billion in 2015, the Federal Customs Service (FCS) of Russia reports.

It is 41.8% lower than a year earlier.

At the same time, export volumes even increased and reached 244.485 million tons.

The majority was supplied to the CIS countries. Oil exports gave the country up to $83.955 billion, which is 42.3% lower than during the same period of the previous year. Revenues from oil exports to the CIS fell by 32.3% to $5.62 billion, Tass reports.