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

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.

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