Moscow, Sept. 10 (Petra) Russia’s government said on Thursday that total energy revenues in the federal budget fell 16% year-on-year in August, amid a decline in energy-related revenues during the month.

In a statement, the Russian government said net oil extraction revenues also fell by about 22% to around $4 billion, due to a lower calculated crude oil price and higher subsidy payments directed to the domestic market, putting pressure on oil-sector revenues.

//Petra// AF