Iran war triggers surge in oil prices; industry estimates Russia's oil and natural gas revenue in April will increase by 70% compared to March.

GateUser-bd883c58 · 2026-03-27T20:03:01+00:00

Due to the US and Israel's attacks on Iran causing tensions in the Middle East, international oil prices soared from $70 to $100, and global natural gas prices also surged significantly. This led to Russia's oil and natural gas revenues expected to increase by 70% in April, reaching 900 billion rubles, easing its short-term fiscal pressure.

GateUser-bd883c58

2026-03-27 20:03:01

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The Iran war has triggered a surge in oil prices, with industry estimates predicting a 70% increase in Russia’s oil and gas revenue in April compared to March. According to a report from Financial Associated Press on March 24, as the U.S. and Israel launched attacks on Iran at the end of February, the international oil price has skyrocketed from below $70 per barrel to around $100 now. Meanwhile, global natural gas prices have also risen sharply. This situation undoubtedly positions Russian energy exports as one of the behind-the-scenes winners. Based on an estimated tax oil price of $75 per barrel, it is projected that Russia’s budget oil and gas revenue in April will increase by 70% compared to March, reaching 900 billion rubles, marking the highest monthly level since October 2025. Sources familiar with the matter revealed to the media that the surge in oil prices triggered by the Iran war is expected to significantly alleviate the short-term fiscal pressures faced by Russia, allowing the Russian government to postpone the implementation of a plan aimed at increasing long-term fiscal reserves.

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