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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
Natalie Johnson
By Natalie JohnsonApril 09, 2026
Natalie Johnson

Natalie Johnson is the Deputy Head of Content at GZERO Media and edits the GZERO Daily newsletter. Her career has spanned producing for broadcast cable news at outlets like MSNBC, VICE TV, and NewsNation, as well as writing for digital media. She's also the creator and co-editor of an anthology called "Black Love Letters," published in 2023 through John Legend's GetLifted book imprint. Natalie studied political science at Scripps College and holds a master's degree in sociology from Columbia University.

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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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