• Russian tax revenues from natural resource extraction more than doubled in April, partly due to the surge in global energy prices caused by the Middle East conflict.
  • Revenues reached 917 billion rubles ($12.2 billion), up from 443 billion rubles in March.
  • The largest portion, about $10 billion, came from oil taxation.
  • Moscow, an ally of Tehran, did not directly intervene but benefited significantly from the crisis.
  • The government returned about half of the oil revenues to domestic oil companies to curb fuel price hikes.
  • The oil sector is a key source of funding for Russia’s war in Ukraine, and Kyiv increasingly targets Russian refineries and export terminals with drone attacks.

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