Russian Oil and Gas Revenues Dipped by 12% With April Price Crash

Russia saw its budget revenues from oil and gas drop by 12% in April from a year earlier, due to the oil price rout last month, the Russian finance ministry said on Wednesday. Oil and gas revenues for the Kremlin dipped to $13.45 billion (1.09 trillion Russian rubles) in April, from $15.2 billion (1.23 trillion rubles) in the same month of last year. For the first four months of the year, oil and gas revenues fell by 10.3% to $46 billion (3.73 trillion rubles), according to the ministry’s data. The decline in revenues so far this year was…