Assessment of the Oil and Gas Sector Influence on the Parameters of the Budget System of the Russian Federation

The article reveals the role of oil and gas revenues in the formation of the federal and regional budgets of the Russian Federation, as well as the channels of oil prices influence on budget system revenues. The stages of forming the government's position on the development of the oil and gas section are highlighted and characterized. The oil and gas sector taxation transformation is disclosed based on the interests of the state and business. The global oil prices dynamics impact on Russia macroeconomic indicators and the monetary and fiscal regulatory tools selection was assessed. © Published under licence by IOP Publishing Ltd.