economy
April 3, 2026
Russian Oil "Exploded"
Before the US and Israeli attacks on Iran, Russian authorities were considering reducing the economic growth forecast and a drop in the price of Urals oil to $45-$50 per barrel.
TL;DR
- US and Israeli military actions against Iran have boosted Russia's oil export revenue.
- Higher prices for gas, grains, aluminum, and fertilizers are also contributing to increased income.
- Oil prices have risen sharply, potentially increasing Russian oil export revenue by $40 billion if prices remain high.
- Disruptions to the Strait of Hormuz have impacted aluminum, LNG, and fertilizer prices.
- Aluminum prices rose 12%, and nitrogen fertilizer prices increased by almost 75%.
- Rusal, a major aluminum producer, has seen an increase in orders from the US and Europe.
- The US temporarily allowed certain transactions with Russian oil, benefiting India and other Asian countries.
- Russia has sent oil to Cuba, labeling it as humanitarian aid.