Russia's oil and gas revenue reportedly tanked in February as price caps and sanctions ate into export earnings

• Russia's revenue from oil and gas exports almost halved in February of this year, Bloomberg reported.
• Price caps and sanctions imposed by Western countries have eroded Moscow's energy earnings. 
• The tax revenue Russia collects from selling oil and gas sank 46% in February from a year earlier. 

Russia's energy revenues almost halved last month as gas exports to Europe fell and price caps and sanctions imposed by Western countries eroded Moscow's earnings.