Russia’s state oil and gas revenues are expected to increase by 39% year-on-year to RUB 700 billion (US$9.8 billion) in May, driven by higher global oil prices following the war in Iran.

Russia’s state oil and gas revenues are expected to increase by 39% year-on-year to RUB 700 billion (US$9.8 billion) in May, driven by higher global oil prices following the war…

Crude oil futures have jumped over 40% since the Iran war started. The US has also temporarily eased some sanctions pressure on Russian oil.