oil tax revenues surged
Moscow (dpa) — Russia’s tax revenues from natural resource extraction more than doubled in April, boosted in part by higher global prices linked to the Iran war, the Finance Ministry said on Wednesday.
The ministry reported revenues of 917 billion roubles ($12.2 billion) from resource extraction taxes, up from 443 billion roubles in March, according to official data. The bulk — equivalent to around $10 billion — came from oil-related income.
April was the first month in which price increases on global markets, driven by the Iran conflict, were fully reflected in Russia’s revenues.
Moscow, an ally of Tehran, has not directly intervened militarily in the conflict involving Iran, the United States and Israel, but has emerged as one of the main beneficiaries of the crisis in the Middle East.
The windfall is not fully reaching the state budget. The government returned around half of the oil revenues to the domestic petroleum industry, aiming to curb rising prices for petrol and diesel at home and to support refinery upgrades and repairs.
The oil sector remains a key source of funding for the Kremlin’s war in Ukraine. Kiev has increasingly targeted refineries, storage facilities and export terminals with drone strikes in an effort to reduce those revenues.
©2026 dpa GmbH. Distributed by Tribune Content Agency, LLC.
