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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.

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

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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