Russia Boosts Its Oil Revenues to Four-Year High as Prices Surge
Value of shipments hits most since just after Ukraine invasion, amid higher prices and flows
Russia shipped 3.6 million barrels a day of crude in the four weeks to March 22, helping boost inflows to the Kremlin’s war chest to the highest in four years.
Photographer: Roni Rekomaa/BloombergThe Kremlin is earning the most from its oil exports since just after the 2022 invasion of Ukraine as it cashes in on the war in the Middle East, boosting crude flows amid soaring prices and eased sanctions.
A surge in both the prices of Russia’s export grades and the level of shipments drove a second big jump in weekly income, lifting it to the highest since March 2022, shortly after Moscow’s troops poured into Ukraine.