OIES Podcast – Follow the Money: Understanding Russia’s oil and gas revenues

Podcasts - Oxford Institute for Energy Studies

In this latest podcast from the Gas Programme, James Henderson talks to Vitaly Yermakov about his March report ‘Follow the Money: Understanding Russia’s oil and gas revenues’ which tracks hydrocarbon export revenues and the significant part they play in public finances. Russia’s oil and gas revenues have proven volatile in recent years – on top of commodity price cyclicality, western sanctions post-Ukraine have forced Russia to develop new outlets for oil and gas exports. While the Ministry of Finance has continued to publish revenue data, a lot of the other data sets relating to the industry have been suspended. This has made these data critical to understanding Moscow’s approach towards oil and gas taxes and its broader economic strategy under the pressures of the Ukraine war and western sanctions.