Russia’s budget revenues from oil and gas are set to drop by 46% on the year this month, according to Reuters calculations, which the publication based on oil and gas production figures, refining rates, and sales on both the domestic and international markets. According to these, Russia’s revenues from oil and gas for January will be 420 billion rubles, which is equal to about $5.42 billion, driven by lower international oil prices and a stronger local currency. The ruble gained over 30% in December 2025 from a year ago, driving the…