Russia's oil and gas revenues fell sharply in August in the absence of one-off excise profit tax payments and higher subsidies.

Russia collected 326.2 billion rubles, or about $3.76 billion, in net oil revenue in August, down 22% from a year earlier and the lowest monthly total since February.

Russia's oil and gas revenues fell sharply in August in the absence of one-off excise profit tax payments and higher subsidies.