We will slow down: the main risks for the Russian economy in 2026 are named

Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented to the business publication Profil on the main risks for the Russian oil industry and the Russian economy in terms of low global oil prices.

These are really difficult times for the Russian oil industry, Alexey Gromov admits. At the industry level, we are witnessing a loss of company revenues, a shortage of investment resources amid the tight monetary policy of the Central Bank, and so on. In 2026, the share of oil and gas revenues to the budget is likely to decrease further to 20-22% and remain at this level in 2027-2028. However, our economy is ready for this state of affairs: the budget has already shifted to other sources of income, the main of which are tax revenues.

"The Russian economy is moving away from a model based on oil and gas rents," the expert says. "Structural changes are underway that will allow our country to survive a period of low prices and a surplus of oil on the world market."