US-Iran War Makes Putin a Huge Profit, the Amount is Jaw-Dropping
Russia is predicted to reap a fantastic increase in revenue from the oil and gas sector in April. This follows the explosion of the global energy crisis due to attacks by the United States (US) and Israel on Iran, which resulted in the closure of the global oil route, the Strait of Hormuz.
This revenue increase serves as concrete evidence of a major windfall for Russia, the world’s second-largest crude oil exporter. Moreover, the US has lifted sanctions on Russian oil purchases.
“Reuters’ calculations provide some of the first concrete evidence of the windfall for Russia, the world’s second-largest oil exporter, from the Iran war, which oil traders say has triggered the most serious energy crisis in recent history,” stated the Reuters report, quoted on Friday (10/4/2026).
Based on preliminary production data and oil prices, Russia’s mineral extraction tax (MET) on oil output will rise in April to around 700 billion rubles, equivalent to Rp 154.29 trillion (assuming an exchange rate of Rp 220.42/ruble). This figure jumps dramatically compared to March’s revenue of 327 billion rubles or Rp 72.07 trillion, and marks an increase of about 10% compared to April last year.
The Russian government itself has set a target for mineral extraction tax revenue of 7.9 trillion rubles or approximately Rp 1,741 trillion for the whole of 2026. However, the surge in Urals oil prices, which serve as Russia’s tax benchmark, has skyrocketed to an average of US$77 per barrel in March, the highest level since October 2023.
“That is up 73% from US$44.59 per barrel in February and above the US$59 level assumed in this year’s state budget,” explained data from Russia’s Ministry of Economic Development.
The chaotic market conditions due to escalation in the Middle East have sharply increased demand for energy supplies from Russia. The Kremlin has confirmed that many parties are now turning to Moscow for supplies amid the shock to the foundations of the global oil and gas market triggered by the airstrikes on Iran at the end of February.
“The Kremlin said on Tuesday there is a large amount of demand for Russian energy from various places amid the severe global energy crisis that is shaking the foundations of the oil and gas market,” stated the official Russian authority.
Nevertheless, economists in Russia warn that this major profit still has limitations and heavy challenges in 2026. Despite the price surge, Russia must still face a fairly wide budget deficit in the first quarter of this year due to significant economic obstacles.
“Russia experienced a budget deficit of 4.58 trillion rubles (Rp 1,009.52 trillion), or 1.9% of gross domestic product, in January-March 2026,” reported Russia’s Ministry of Finance on Wednesday.
In addition to macroeconomic factors, physical threats to Russia’s energy infrastructure also act as hindering factors that could suppress the profit figures. Ongoing attacks from Ukraine on Russian energy facilities aim to cripple Moscow’s finances and pose a real threat to national oil production cuts.
“And Ukraine’s attacks on Russia’s energy infrastructure, with the aim of crippling Moscow’s finances, have also contributed to lower revenues and threaten oil production cuts,” the report concluded regarding the risks facing Russia.