Russia is earning as much as $150 million a day in extra budget revenue from oil sales as turmoil in the Middle East drives up global crude prices, according to calculations by the Financial Times.
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Russia reaps oil windfall from gulf supply shock [VIDEO]
Russia is earning as much as $150 million a day in extra budget revenue from oil sales as turmoil in the Middle East drives up global crude prices, according to calculations by the Financial Times.
The newspaper said Moscow has already taken in up to $1.9 billion in additional tax revenue from oil exports after Iran’s closure of the Strait of Hormuz tightened supply and boosted demand for Russian crude from major buyers such as China and India.