Russia's Oil Tax Revenues Hit Six-Month High Amid Middle East Tensions
4 Articles
4 Articles
According to its own figures, Russia doubled its raw material revenues by EUR 10 billion in April. Much of the revenue goes back to the oil business.
Russian oil prices rose in April to their highest level since 2014, bringing unexpected additional revenue to the Kremlin as it fights a war in Ukraine. The main reason for the increase is the war launched by the US and Israel against Iran, which led to the closure of the Strait of Hormuz and thus caused an increase in oil prices on the world market, writes the Kyiv Post.
Iran War Helps Boost Russia’s Oil Tax Revenue to 6-Month High - Energy News Beat
The ongoing conflict in the Middle East — sparked by U.S. and Israeli strikes on Iran in early 2026 — has delivered an unexpected windfall to the Kremlin. Global oil prices surged as threats to the Strait of Hormuz disrupted supplies from the region, pushing benchmark prices above $100 per barrel at peaks and lifting Russian Urals crude to its highest levels in years. As a result, Russia’s main oil tax revenue (the mineral extraction tax, or MET…
Russia's oil tax revenues hit six-month high amid Middle East tensions
Russia's increased oil tax revenues highlight the complex interplay between geopolitical tensions and global economic stability. The post Russia’s oil tax revenues hit six-month high amid Middle East tensions appeared first on Crypto Briefing.
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