Iran War Boosts Russia’s April Oil Tax Revenue to Six-Month High

Russia’s oil tax revenues jumped to a six-month high last month as the Kremlin started reaping the benefits of a crude rally driven by the war in Iran. With oil still trading near $100 a barrel, the windfall is set to continue.

Russian producers paid 707.1 billion rubles ($9.5 billion) in federal oil taxes last month, the highest since October, according to Bloomberg calculations based on Finance Ministry data published on Wednesday. Total oil and gas revenues reached almost 856 billion rubles.