Why the Middle East Oil Shock Failed to Save Russia’s Budget
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Source: The Moscow Times
Published: 2026-09-02 00:03 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Middle East, Europe, Military & Defence, Iran, Ukraine/Russia, Energy, Tax & Budget, World News, War & Conflict
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Snippet:
In the early weeks of the U.S.-Israeli war against Iran, observers were quick to declare Russia a major beneficiary of the conflict. After all, the effective closure of the Strait of Hormuz disrupted roughly a fifth of global oil supplies, forcing countries to scramble for alternative sources and turning attention toward Russian crude.
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