Russia’s government revenue from the oil industry was almost 50% higher in June compared with a year earlier as the nation’s producers adapted to international sanctions and obtained higher prices for their crude exports.

Oil-related taxes jumped to 590.6 billion rubles ($6.7 billion) last month compared with 402.8 billion rubles in June 2023, according to Bloomberg calculations based on Finance Ministry data. Total oil and gas revenue rose by 41% to 746.6 billion rubles, the ministry said.