Russia's oil and gas revenue plunged 40% in January as western sanctions take a toll, IEA says

• Russia's oil and gas revenue plunged 40% in January, according to IEA data.
• The nation has been battered by western sanctions, which have restricted its trade of oil and gas.
• "Our expectation is that this oil and gas revenue decline will be steeper in the next months to come," IEA chief Fatih Birol said.

Russia's oil and gas revenue plunged 40% in January, a sign that the nation's exports are feeling the squeeze of western sanctions, the International Energy Agency said.