Russia's budget benefits from higher oil prices following the Iran war

bruegel.org

Russia gained approximately €13.5 billion from higher oil prices following the Iran war, providing temporary fiscal relief. The conflict caused Urals crude oil prices to surge, eliminating discounts and boosting Russian hydrocarbon revenues significantly from March to June 2026. These gains, though not offsetting Ukraine war costs, offered respite and temporarily increased Russia's ability to fund its military expenditures.


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Russia's budget benefits from higher oil prices following the Iran war | News Minimalist