MOSCOW, Dec 12 (Reuters) – Russian state oil and gas revenue is likely to almost halve in December compared with a year ago to 410 ‍billion roubles ($5.17 billion) as a result of lower crude prices and a stronger rouble, Reuters calculations showed on Friday.

For the entire year, the revenue is set to fall by almost a quarter to 8.44 trillion roubles, below the Finance Ministry’s ‌8.65 trillion rouble forecast, according to ‌the calculations based on data from industry sources and official statistics on production, refining and supplies.

Russia reported the lowest monthly oil and gas revenues of 405 billion roubles in August 2020, when oil prices tumbled during the COVID-19 pandemic.

Oil and gas revenue is the number one source of ‍cash for the Kremlin, making up a quarter of total fede

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