London, UK – Web Desk : The ongoing conflict in the Middle East and the closure of the Strait of Hormuz has resulted in a significant boost to Russia’s oil revenue, generating an estimated $150 million in additional daily income, according to a British trade publication.
Following recent tensions in the region, demand for Russian crude oil has surged, with India and China emerging as major buyers, the report said. The publication added that Russia is also benefiting from export taxes, earning $1.3 to $1.9 billion unexpectedly in recent weeks, and if current prices persist, March could see gains between $3.3 and $4.9 billion.
Specifically, India’s daily imports of Russian oil have reportedly reached 1.5 million barrels, representing a 50% increase within a month, highlighting the shifting dynamics of the global energy market.
Analysts note that the Hormuz bottleneck and regional instability are reshaping trade flows, giving Russia an unexpected advantage in the international oil market amid geopolitical tensions.
