Russia’s oil revenues to the state budget increased by almost 50% in May compared to last year. The reason for this was the rise in raw material prices, as well as the country’s adaptation to international sanctions, according to Bloomberg. The agency analyzed data from the Finance Ministry and concluded that oil-related taxes rose to 632.5 billion rubles ($7.1 billion) last month. The increase in revenues followed a rise in Urals crude oil prices. The calculation was based on a price of $74.98 per barrel for Urals crude compared to $58.63 per barrel a year earlier. “The blend’s discount to th…