$100 Oil Is Solving Russia's Budget Problem

What: Russia's oil revenues have hit a four-year high this month, reaching $7.2 billion.
Why: The surge in oil prices to $100 per barrel is primarily due to the ongoing Iran war and the de facto closed Strait of Hormuz.
Signal: The Kremlin is expecting significant additional revenues from the oil price spike, which could help alleviate Russia's budget problems.
Target: Moscow aims to capitalize on the current oil price boom to bolster its economy and offset the impact of Western sanctions.
Risk: The prolonged Iran conflict and potential disruptions to global oil supplies could lead to a sustained increase in oil prices, further benefiting Russia's oil revenues.