Russia's Oil Export Revenues Hit Highest Level Since Early War as Prices Surge

Russia's oil export revenues reached their highest level since the early days of the Ukraine war, as global crude prices surged — driven partly by supply disruption from the ongoing Iran conflict and despite continuing Ukrainian drone and missile attacks on Russian port infrastructure. The revenue spike raises fresh concerns about the effectiveness of Western price caps and sanctions regimes, as Moscow continues to finance its war effort through hydrocarbon exports routed via shadow-fleet tankers and non-sanctioning states.