{"id":25142,"date":"2025-10-01T13:35:16","date_gmt":"2025-10-01T13:35:16","guid":{"rendered":"https:\/\/naijaglobalnews.org\/?p=25142"},"modified":"2025-10-01T13:35:16","modified_gmt":"2025-10-01T13:35:16","slug":"is-russias-economy-at-risk-as-oil-revenues-shrink-russia-ukraine-war","status":"publish","type":"post","link":"https:\/\/naijaglobalnews.org\/?p=25142","title":{"rendered":"Is Russia\u2019s economy at risk as oil revenues shrink? | Russia-Ukraine war"},"content":{"rendered":"<p>\n<\/p>\n<p>Russia plans to raise tax to fund its defence budget as oil revenues decline.<\/p>\n<p>Despite Western sanctions, Russia\u2019s military spending has fuelled its war economy. Three years into the war in Ukraine, growth is stalling, energy revenues are plunging, and the budget deficit is widening.<\/p>\n<p>To shore up state coffers, Russia is raising the value-added tax from 20 percent to 22 percent, among other measures. The Ministry of Finance says funds will mainly cover defence and security spending.<\/p>\n<p>The plan came a day after United States President Donald Trump said Russia was in \u201cbig economic trouble\u201d, but is it?<\/p>\n<p>Can the United Kingdom\u2019s Labour Party deliver on its economic promises?<\/p>\n<p>Plus, will the Africa-US trade pact, AGOA, be renewed?<\/p>\n<p><span class=\"screen-reader-text\">Published On 1 Oct 2025<\/span><span aria-hidden=\"true\">1 Oct 2025<\/span><\/p>\n<p>Click here to share on social media<\/p>\n<p>share2<\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia plans to raise tax to fund its defence budget as oil revenues decline. Despite Western sanctions, Russia\u2019s military spending has fuelled its war economy. Three years into the war in Ukraine, growth is stalling, energy revenues are plunging, and the budget deficit is widening. To shore up state coffers, Russia is raising the value-added<\/p>\n","protected":false},"author":1,"featured_media":25143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[1404,268,13645,736,6842,2722,15214,261],"class_list":{"0":"post-25142","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-economy","9":"tag-oil","10":"tag-revenues","11":"tag-risk","12":"tag-russias","13":"tag-russiaukraine","14":"tag-shrink","15":"tag-war"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/25142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25142"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/25142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/25143"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}