Sanctions finally squeezed Russia’s oil revenues in half. Then Iran sent prices back up—three weeks too late.
The Iran windfall arrived three weeks after Q1 closed. Now Moscow is eyeing the war budget.
Browsing Tag
National Welfare Fund
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Russia’s energy revenues crash by 19% as war devours civilian budget
With gas exports to Europe halved and oil profits plunging, the Kremlin raids its welfare fund while fueling the front.