Russia earns up to $150 million in additional daily revenue from oil sales amid the war in the Middle East and rising global energy prices.
The Financial Times reported this.
Details
According to the outlet, the effective blockade of the Strait of Hormuz sharply increased demand for Russian oil. Traders from India and China bought more Russian crude due to fears of supply disruptions from the Middle East.
As a result, Moscow collected $1.3–1.9 billion in additional tax revenues from oil exports. The Russian state budget, controlled by President Vladimir Putin, benefits the most from the revenue increase.
Another factor came when the United States Department of the Treasury allowed the temporary sale of Russian oil that already sails at sea. The license runs from March 12 to April 11.
At the same time, US Treasury Secretary Scott Bessent stressed that this step will not give Russia a significant financial advantage, because the Kremlin earns most of its oil revenue from extraction taxes rather than the sale of already exported crude.
In addition, the US granted a 30-day exemption for India, letting New Delhi continue buying Russian oil.
Context
Global oil prices surpassed $100 per barrel for the first time since 2022 amid escalating tensions between the US, Israel, and Iran. The market fears long-term supply disruptions due to a potential blockade of the Strait of Hormuz.
Recent demand for Russian oil increased, especially from India and China. This was driven by concerns over Middle East supply shortages.
Oil remains one of Russia’s key industries. In 2022, the country generated over $320 billion in oil and gas revenue, allowing the Kremlin to quickly fund its full-scale aggression against Ukraine.
Earlier, The Ukrainian Review reported that Russian oil and gas companies suffered losses exceeding 1 trillion rubles in 2025. Systematic attacks by Ukrainian drones destroyed refinery infrastructure and caused significant profit losses.
