Iran-Israel War Latest: According to reports, Russia pockets an extra €510 million ($550+ million) daily in fossil fuel revenues since US-Israel war against Iran began February 28 representing 14% jump over February averages. Strait of Hormuz effective closure slashed global supply 10 million barrels per day rocketing Brent crude past $100 per barrel. India China aggressively bought Russian crude after US Treasury issued 30-day waiver clearing stranded tankers while Moscow narrowed export discounts significantly.​
How Much Extra Cash Russia Gains Daily Now
Centre for Research on Energy and Clean Air (CREA) calculates €510 million daily fossil fuel windfall enough purchasing 17,000 Shahed drones every 24 hours at $35,000 unit cost. Oil price surge alone adds €45 million ($49 million) daily with cumulative two-week total hitting €6 billion ($6.9 billion). Tax revenues from oil exports jumped $1.3-1.9 billion since conflict ignition per separate estimates. Urals crude climbed toward $62 per barrel surpassing Russia’s $59 budget target dramatically.
Why India China Suddenly Buy More Russian Oil
Hormuz maritime blockade cut Middle East exports forcing major refiners seek alternatives immediately. US Treasury waived sanctions allowing India purchase previously “stuck at sea” Russian cargoes preventing global shortage catastrophe. Kpler data shows Russian crude tanker storage dropped 18-32 million barrels since late February signaling accelerated buyer uptake. China state firms reportedly secured long-term contracts locking discounted barrels through summer months preemptively.​
What Hormuz Closure Means for Global Oil Markets
Iranian IRGC tanker strikes maritime control claims removed 10 million barrels daily supply representing fifth global consumption instantly. Brent crude spiked 27% since war began despite minor Tuesday pullback after Trump de-escalation signals. Russia’s stable export infrastructure positions Moscow filling void other producers face force majeure declarations. Prolonged crisis risks multi-week GDP hits factory shutdowns worldwide as energy costs cascade through supply chains rapidly.​
How Kremlin Responds to Western Sanction Relief
Kremlin envoy Kirill Dmitriev met Trump representatives Florida March 11 amid White House considerations easing Russian oil sanctions lowering global prices. Analysts warn sanction relaxation grants Moscow “significant financial windfall” fueling Ukraine war machine directly. Russia maintains neutrality avoiding Iranian arms supplies securing Western purchase accommodation tacitly. Higher revenues ease public finance pressures support budgeted military investments without deficit financing urgency.
FAQs
Q: What daily fossil fuel windfall Russia captures now.
A: €510 million ($588 million) 14% above February average per CREA analysis.
Q: How many Shahed drones daily revenue purchases.
A: 17,000 units at $35,000 each from extra fossil fuel earnings alone.
Q: Why did US Treasury waive Russian oil sanctions.
A: 30-day India exemption cleared stranded cargoes stabilized global supply.
Q: What Urals crude price beats budget target.
A: $62 per barrel exceeds Moscow’s $59 planning benchmark substantially.
Disclaimer: This information is based on inputs from news agency reports. TSG does not independently confirm the information provided by the relevant sources.
