Russia experienced a 50% increase in oil revenue in May as the nation adjusts to sanctions.

In May, Russia saw nearly a 50% increase in oil revenue directed to the state budget compared to the same period last year, driven by higher crude prices and the nation’s adjustments to international sanctions.

Oil-related taxes surged to 632.5 billion rubles ($7.1 billion) last month, as calculated by Bloomberg using data from the Finance Ministry. The ministry reported that total oil and gas revenue rose by 39% to 793.7 billion rubles.