Russian oil company Rosneft reported a 70.1% decline in net income during the first nine months of 2025, falling to RUB 277 billion, according to the company’s financial results. During the same period in 2024, the company’s net income was RUB 926 billion.

The company’s revenues from sales declined 17.8% to RUB 6.28 trillion during the period from January through September 2025, compared to RUB 7.64 trillion in the first nine months of 2024.

Rosneft noted that its performance for the first nine months of 2025 came under additional pressure due to factors such as tariff indexation outpacing inflation for natural monopolies, rising costs related to anti-terrorism security measures, the high key interest rate set by the Bank of Russia, and the ruble’s strengthening since the beginning of the year.

For operational results, Rosneft’s hydrocarbon production in the nine months of 2025 amounted to 4.97 million barrels of oil equivalent per day (mmboe/d).

In September, Rosneft reported that net income attributable to shareholders fell to RUB 245 billion in the first half of 2025, marking a 68.3% decline compared with the same period last year.

In October, US President Donald Trump imposed his first sanctions against Russian oil giants Lukoil and Rosneft as tensions with President Vladimir Putin over the Russia-Ukraine war continued to rise.