This was a big, big earner for Russia:
Russian oil revenues fell to their lowest level in more than five years in January, as the nation faced a triple challenge of lower global prices, deeper discounts, and a stronger ruble.
Oil-related tax income dropped by half to 281.7 billion rubles ($3.7 billion) compared to January 2025. The combined revenue from oil and gas sectors also declined by 50% to 393.3 billion rubles.
India is stopping/slowing its purchase of Russian oil as it fears US sanctions
Indian refiners are avoiding Russian oil purchases for delivery in April and are expected to stay away from such trades for longer, refining and trade sources said, a move that could help New Delhi seal a trade pact with Washington.