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Impact of Declining Oil Revenues on Russia’s Economy

1 October 2025
in World
Impact of Declining Oil Revenues on Russia’s Economy
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In response to declining oil revenues and a widening budget deficit, Russia plans to increase the value-added tax from 20% to 22% to fund its defence budget amid ongoing military expenditures related to the war in Ukraine. This decision follows remarks by U.S. President Donald Trump about Russia’s economic troubles, highlighting the challenges faced by the country.

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Tags: AfricaBusiness and EconomyDecliningDonald TrumpEconomyEuropeImpactoilPoliticsrevenuesRussiaRussia Ukraine warRussiasShow Typestv showsUkraineUnited KingdomUnited StatesUS & Canada
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