Russian oil price used for taxation exceeds budget target, helping state coffers

The price of Russian oil used for taxation has exceeded the budget target for the first time since January 2025, according to Reuters calculations. Reuters attributes the move to a rise in global oil prices driven by the Iran war, which boosts near-term Russian fiscal receipts and underscores heightened volatility in energy markets.

Analysis

The price of Russian oil used for taxation has exceeded the budget target for the first time since January 2025, according to Reuters calculations. Reuters attributes the move to a rise in global oil prices driven by the Iran war, which boosts near-term Russian fiscal receipts and underscores heightened volatility in energy markets.