Russia's oil and gas revenue reportedly tanked in February as price caps and sanctions ate into export earnings
Russia's energy revenues almost halved last month as gas exports to Europe fell and price caps and sanctions imposed by Western countries eroded Moscow's earnings.
The tax revenue the country collects from selling its oil and gas sank 46% to $6.91 billion in February from a year earlier, according to a Friday report byTwo-thirds of the country's energy tax revenue in February came from sales of Russia's crude oil and petroleum products, which plunged by 48% to $4.78 billion, per Bloomberg estimates.
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