Russian government budget revenues continue to collapse as the combined weight of war spending, international sanctions, and systemic mismanagement tears into the foundations of its economy. In May 2025, the Kremlin recorded a federal budget deficit of 167.7 billion rubles—despite May traditionally being a month of budget surpluses for Russia. Total federal revenues for May fell to 2.46 trillion rubles, a 6% drop compared to the same month last year.