03.05.2026 18:41
Iran's closure of the Strait of Hormuz during the war and the US's full blockade caused oil prices to soar worldwide, benefiting Russia. Russian Finance Minister Anton Siluanov announced that with the rise in oil prices, Russia's budget received an additional approximately 200 billion rubles (about 2.7 billion dollars) in revenue.
Russian Finance Minister Anton Siluanov said that the Russian budget has received an additional approximately 200 billion rubles (about $2.7 billion) in revenue thanks to the recent increase in oil prices.
200 BILLION RUBLES IN ADDITIONAL REVENUE
In a statement to the Russian state channel Rossiya-24, Siluanov stated that they have positive expectations regarding the country's economy. Pointing out that the increase in oil prices has provided additional revenue to the budget, Siluanov said, "There is an amount of approximately 200 billion rubles. The revenues and budget deficit over the last two months are roughly at the same level."
"OIL PRICE PER BARREL COULD RISE ABOVE 120 DOLLARS"
Kremlin Spokesperson Dmitry Peskov, in his assessment to Rossiya-24, stated that Ukraine continues to attack Russian energy infrastructure despite the increase in global oil prices.
Emphasizing that the world is experiencing an energy crisis, Peskov said, "If our oil decreases further in the global market, the current prices, which have reached $120 per barrel, will increase even more."
On March 2, the Islamic Revolutionary Guard Corps announced that the Strait of Hormuz was closed to traffic following the US/Israeli attacks on February 28, and global oil prices rapidly increased.
There has also been a recent increase in Ukraine's attacks on oil facilities in Russia.