Russia's revenues from oil and gas sales have increased to at least USD 760 million a day due to the war against Iran, which has disrupted global energy supply chains from the Persian Gulf.
The British edition of The Telegraph writes with reference to the Kyiv School of Economics (KSE).
According to the KSE, in March, russia's oil and gas revenues will grow from about USD 12 billion to almost USD 24 billion. This is due to the fact that the conflict in the Middle East has allowed Moscow to benefit from a sharp increase in energy demand.
The KSE notes that even if the war against Iran ends in the near future, russia's oil and gas revenues are expected to grow to USD 218 billion this year. This is 63% more than Moscow could have expected if the war against Iran had not taken place.
This means that this year the leadership of the aggressor country can expect to receive USD 84 billion in windfall profits. And this is based on an optimistic scenario in which the war against Iran ends in April and energy supplies are quickly restored.
If the conflict in the Middle East drags on for six months, for example, russia's annual revenue from oil and gas sales will be approximately USD 386 billion. This is almost 200% more than was predicted before the war against Iran.
The decision of the United States, which eased sanctions against russia a few days after the start of the war against Iran, allowed Moscow to trade oil at world market prices. Prior to that, russian companies were forced to sell the "black gold" at reduced prices.
As the Ukrainian News agency earlier reported, on March 24, Bloomberg wrote that the price of russian Urals oil on the west coast of India has jumped to USD 120 per barrel. Back on March 16, the price of russian oil was almost USD 90.
The day before, analysts at the US Institute for the Study of War (ISW) said that the US war against Iran saved russia from economic failure.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.