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‘Pocketing billions’: How the Iran war has thrown Putin an oily lifeline

Russia’s oil revenue could reach up to $136 billion in 2026 due to price surges and eased sanctions, despite ongoing conflict and global supply disruptions.

As Australia braces for fuel shortages and the world confronts an economic fallout from the Iran conflict that could trigger a global recession, one country is reaping the spoils.

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  • 67% of the sources lean Left
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Sydney Morning Herald broke the news in Sydney, Australia on Tuesday, March 31, 2026.
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