Russia Earns About USD760M Daily from Oil Exports

(MENAFN) Russia is generating approximately $760 million per day from oil exports as the escalating war in Iran drives global crude prices sharply higher and redirects demand towarsd Russian barrels, The Telegraph reported Thursday, drawing on data from the Kyiv School of Economics (KSE) Institute.

The KSE Institute projected that Russia’s combined oil and gas sales could nearly double within the current month alone — surging from roughly $12 billion to close to $24 billion — as Moscow capitalizes on elevated prices and temporary sanctions relief granted by Washington.

Even in a scenario where hostilities wind down within weeks, Russia’s annual oil and gas export revenues are forecast to reach $218.5 billion this year, a staggering 63% premium over projections that assumed Middle East energy supplies would remain uninterrupted, according to KSE. That translates to an estimated $84 billion in unexpected windfall earnings.

Should the conflict stretch on for another six months, annual revenues could balloon to $386.5 billion — nearly 188% above pre-crisis baselines, the same projections indicate.

At a Kremlin gathering focused on economic affairs Monday, Russian President Vladimir Putin urged the country’s hydrocarbon giants to channel the surplus earnings toward clearing domestic debt obligations.

“Russian oil and gas companies should consider using additional revenue from rising global hydrocarbon prices to reduce their debt burden and pay off their debt to domestic banks. This would be a mature decision,” Putin said.

The windfall has been further amplified by temporary US sanctions waivers covering oil cargoes already loaded onto tankers at the time of implementation, significantly reducing transaction risks for international buyers, the report noted.

Analysts observed that Russian crude had previously been offloaded at steep discounts, as sweeping sanctions imposed heavy legal, financial, and logistical costs on prospective buyers. The waivers, however, have enabled Moscow to market select oil shipments at prices far closer to prevailing open-market rates.

Global benchmarks have surged dramatically since the Iran conflict erupted, with Brent crude climbing roughly 40% to approximately $105 per barrel. Russian oil prices have risen at an even faster clip, KSE estimates show.

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