Iran War Doubles Russia’s Main Oil Revenue to $9 Bln

Russia will see revenue from its biggest single oil tax double to $9 billion in April due to the oil and gas crisis triggered by the U.S. and Israeli attack on Iran, calculations showed on Thursday.

Russia’s main revenue from its vast oil and gas industry is based on production. Export duty on crude oil has been nullified from the start of 2024 as part of the so-called wider tax manoeuvre, a years-long tax reform of the industry. Reuters