Hard Numbers
Hard number: Russia’s oil windfall
The revenue generated by Russia’s main oil tax in April amid the Iran war, per Reuters calculations. The amount is double last month’s revenue, and up by 10% from this time last year.
Natalie Johnson
April 09, 2026
The Iran war has pushed Brent crude prices to $100 per barrel, up from around $70 before the conflict began. One of the main beneficiaries was a country not fighting in the war: Russia. The Kremlin relies heavily on its oil and gas exports, which account for between 30% and 50% of the government’s budget. As such, the global surge in prices has provided a welcome boost to Moscow amid its own war effort in Ukraine.
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