Russia's oil revenue slumped to a six-month low in August, reflecting lower export prices and compounding pressure on the Kremlin's ability to finance its war in Ukraine. Net budget proceeds from oil production totaled 326.2 billion rubles ($3.76 billion), down about 22% year-on-year.

According to Bloomberg calculations based on Finance Ministry data published Thursday, the figure was the lowest since February. The drop highlights how falling Urals prices continue to squeeze Russia's energy earnings, which remain a critical source of funding for government operations amid ongoing military spending.

The decline comes as the country faces sustained Western sanctions and shifting global energy market dynamics. Lower export prices combined with constrained sales channels have steadily eroded monthly revenue figures, underscoring the fiscal strain on Moscow's wartime budget.

Bloomberg News reported the figures on September 3, 2026, based on official Russian Finance Ministry data.