Moscow Oil Refinery
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Russia's oil and gas tax revenues drop 17% in nine months despite higher prices
Russia's oil and gas tax revenues fell 17% in the first nine months of 2026, reaching 5,47 trillion rubles ($64.43 billion) compared to 6,61 trillion rubles a year earlier. The decline came even as Urals crude prices more than doubled from pre-war levels, driven by falling production, export constraints and Ukrainian drone strikes on refineries.
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Ukraine strikes Moscow oil refinery and logistics complex in largest drone attack on Russian capital
In the night of 19–20 September 2026, Ukraine launched a massive drone and missile attack on Moscow and Moscow Oblast, hitting the Gazpromneft Moscow Oil Refinery in Kapotnya and a warehouse complex in Sofyino. Fires broke out at both sites. Moscow Mayor Sergei Sobyanin called it the largest drone attack ever on the Russian capital. At least two people were killed and six injured across Moscow Oblast, and more than 400 flights were cancelled or delayed at Moscow airports. President Volodymyr Zelensky confirmed the operation involved the SBU, Unmanned Systems Forces, SSO, HUR and Foreign Intelligence Service.