Is Russia’s Oil Industry Heading for Bankruptcy?

Russia's oil industry has taken a hit as revenues have fallen, borrowing costs have soared and some companies have even gone bankrupt. So in this video, we'll take a look at Russia's economic situation and what it means for the war in Ukraine.

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Sources:

Russia trading oil at record discount https://ru.themoscowtimes.com/2025/12/30/rossiya-nachala-torgovat-neftyu-v-ubitok-iz-za-rekordnih-skidok-dlya-kitaya-i-indii-a184011 https://united24media.com/latest-news/russia-forced-to-sell-oil-to-india-at-22-a-barrel-as-buyers-balk-at-sanctions-15454

Stats on Russia’s military spending https://en.thebell.io/russian-military-spending-to-rise-rise/ https://www.ukrainianworldcongress.org/russia-plans-to-spend-record-one-third-of-2026-budget-on-war/

Russia’s GDP stats https://cepr.org/system/files/publication-files/203674-policy_insight_131_russian_economy_on_war_footing_a_new_reality_financed_by_commodity_exports.pdf https://tradingeconomics.com/russia/gdp-growth-annual

Energy revenues 2022 https://energyandcleanair.org/wp/wp-content/uploads/2022/06/Financing-Putins-war-100-days_20220613.pdf

Energy revenues fall https://tvpworld.com/91075599/russia-oil-and-gas-revenues-fall-24-to-lowest-since-2020#:~:text=Russia's%20budgetary%20disaster:%20Moscow's%20oil,revenues%20plummet%2024%25%20in%202025&text=Income%20from%20oil%20and%20gas,fell%20by%2024%25%20last%20year.&text=Moscow's%20budgetary%20inflows%20from%20hydrocarbons,Western%20sanctions%2C%20according%20to%20analysts. https://www.telegraph.co.uk/business/2026/02/13/discounts-on-russian-oil-hammer-putins-war-machine/

Russian oil companies going bankrupt https://ru.themoscowtimes.com/2026/02/17/v-rossii-iz-za-obvala-tsen-na-neft-nachalis-bankrotstva-neftyanih-kompanii-a187469 https://www.bloomberg.com/news/articles/2026-02-18/russia-cuts-oil-drilling-as-money-dries-up-with-output-at-risk

Russia’s fiscal performance https://www.bloomberg.com/news/articles/2026-02-12/russia-walks-tightrope-to-curtail-credit-risk-and-avoid-downturn https://united24media.com/war-in-ukraine/russias-war-chest-is-drying-up-how-sanctions-and-oil-prices-bite-into-the-national-wealth-fund-9599