Siluanov: oil and gas share of Russia's budget will stay below 17% through 2029
In short
Russian Finance Minister Anton Siluanov said the share of oil and gas revenues in the federal budget will not exceed 17% over the next three years, and that the non-oil-and-gas balance will be about 5%. Vedomosti reported he called that the lowest level since 2008, and said the Finance Ministry expects 289.46 billion rubles of additional oil and gas revenues in October.
Read the full story 1 min read
Russian Finance Minister Anton Siluanov said the share of oil and gas revenues in the federal budget will not exceed 17% over the next three years, according to TASS, Vedomosti and RIA Novosti. Vedomosti and RIA Novosti said the period concerned is 2027-2029. [ 1 , 3 , 4 ]
Speaking at parliamentary hearings in the Federation Council, Siluanov said dependence on market conditions in the budget is declining, Vedomosti reported, quoting TASS. He said the so-called non-oil-and-gas balance will be about 5%, which Vedomosti reported he described as the minimum level since 2008. TASS separately reported the non-oil-and-gas balance figure of about 5%. [ 2 , 3 ]
Vedomosti also reported that the Finance Ministry estimates expected additional oil and gas revenues in October at 289.46 billion rubles, and that in September the deviation of actually received oil and gas revenues from the expected volume was minus 10.04 billion rubles. According to the same report, Siluanov said in February that the oil and gas share of the Russian budget would be less than 20% in 2026, adding that Russia was relying on it less and less. [ 3 ]
Why it matters
The figures describe how much the federal budget still depends on oil and gas receipts, a measure the Finance Ministry presents as declining. The documents do not give total revenue or spending numbers, so the practical effect on the budget's overall position cannot be assessed from them.
Key facts
- Finance Minister Anton Siluanov said the share of oil and gas revenues in Russia's budget will not exceed 17% in the coming three years. [ 1 , 3 , 4 ]
- Vedomosti and RIA Novosti identified those three years as 2027-2029. [ 3 , 4 ]
- Siluanov said the non-oil-and-gas balance will be about 5%. [ 2 , 3 ]
- According to Vedomosti, Siluanov described the 5% level as the minimum since 2008. [ 3 ]
- The Finance Ministry estimates additional oil and gas revenues of 289.46 billion rubles in October, Vedomosti reported. [ 3 ]
- Vedomosti reported that in September the deviation of actually received oil and gas revenues from the expected volume was minus 10.04 billion rubles. [ 3 ]
- In February, Siluanov said the oil and gas share of the 2026 budget would be less than 20%, Vedomosti reported. [ 3 ]
Confirmed by several sources
Still unclear
- Whether the 17% figure is a ceiling or a forecast, and the exact period it covers. TASS refers to “three years”, while Vedomosti and RIA Novosti specify 2027-2029; the documents do not resolve the difference.
- The expected 289.46 billion rubles of additional oil and gas revenues in October. This figure appears only in Vedomosti's article, which attributes it to TASS; no other document in the set states it.
- What the minus 10.04 billion ruble September deviation means for budget planning. Vedomosti reports the number without explaining its significance.
What local media are saying
Timeline, local time
- TASS reports Siluanov saying the oil and gas share of the Russian budget will not exceed 17% over three years. [ 1 ]
- TASS reports Siluanov saying the non-oil-and-gas balance will be about 5%. [ 2 ]
- Vedomosti publishes a fuller report, quoting Siluanov and adding October and September budget figures. [ 3 ]
- RIA Novosti reports on Siluanov's remarks about the oil and gas revenue share in 2027-2029. [ 4 ]