Zelenskyy: Russia to Lose at Least $37 Billion in Oil and Gas Revenue This Year
Ukrainian President Volodymyr Zelenskyy announced a significant reduction in Russia's oil and gas revenues that will amount to at least $37 billion in 2025.
The Gaze reports on it, referring to a post made by the Ukrainian President on Telegram.
Zelenskyy listened to a report by the head of the Foreign Intelligence Service, Oleg Ivashchenko, on the results of pressure on the Russian energy sector and discussed further steps to return Ukrainian children who were illegally taken away during the war.
According to the President, this year, for the first time since the start of the war, there has been a noticeable decline in Russian oil production and processing.
“Oil and gas revenues in the Russian budget are declining, and by the end of this year, Russia will lose at least $37 billion in budget oil and gas revenues,” he wrote. “And Russian oil companies and the energy sector as a whole are losing tens of billions of dollars more.”
This has led to a significant reduction in the Russian Federation's budget revenues from the oil and gas sector and losses for Russian oil companies.
“All this limits the Russian war machine. Both conventional sanctions against Russia and Ukrainian long-range sanctions are working effectively,” Zelenskyy emphasized.
He also thanked Ukraine's partners for their effective actions against the Russian oil fleet, which led to Russia using fewer tankers to export oil.
The Ukrainian Foreign Intelligence Service also reported a drop in supplies due to the “shadow fleet” and the effect of sanctions.
According to their data, in October 2025, 140 tankers with oil and oil products left Russian ports, 84 of which belonged to the “shadow fleet” and most of which were under sanctions. The main export destinations were India, China, and Turkey, with the largest volumes going through the Baltic and Far Eastern ports of the Russian Federation.
After the US sanctions against Lukoil and Rosneft, Chinese state-owned companies suspended purchases of Russian marine oil, refusing about 400,000 barrels per day, or up to 45% of exports to China. Turkish refineries STAR and Tupras are also reorienting their purchases to oil from other countries, reducing their dependence on Russian raw materials.
This has led to higher logistics costs and lower supplies of Russian oil and petroleum products: in October, supplies fell to a 17-month low of 1.9 million barrels per day. At the same time, Russia is experiencing a shortage of gasoline and diesel, and rail exports of gasoline fell by 80% in the first half of the month.
As The Gaze informed earlier, Ukrainian President Volodymyr Zelenskyy stated that Russia's budget deficit for 2026 could reach $100 billion due to sanctions targeting the country's oil industry.
Read more on The Gaze: Why Ukraine Should be Allowed to Attack Russian Oil Refineries – Benefits for the US and EU