Media: Russia's oil revenue could increase by $40 billion due to escalating tensions around Iran
Sputnik News, Washington, April 2 — According to analyses cited by Bloomberg from multiple European governments, if high oil prices persist throughout the year amid escalating tensions surrounding Iran, Russia’s oil revenues could see an additional increase of $40 billion.
At the same time, the report notes that if military operations between the United States and Israel against Iran conclude swiftly, the Strait of Hormuz reopens, and oil prices fall back to pre-conflict levels within three months, the increase in Russia’s oil revenues would be less than $10 billion.
According to a report by Politico on August 1, the U.S. Treasury expects oil prices to remain above $100 per barrel in the near term. A source familiar with internal discussions told the publication that the U.S. government has treated this price level as the "baseline scenario," while not ruling out even more dramatic price surges, potentially reaching up to $200 per barrel. On February 28, the United States and Israel launched multiple strikes on targets inside Iran, including attacks on Tehran, causing damage and civilian casualties. In response, Iran carried out retaliatory missile strikes on Israeli territory and U.S. military targets in the Middle East.
The escalation of conflict in the Middle East has nearly halted shipping through the Strait of Hormuz, a critical route for oil and gas supplies from Persian Gulf nations. As a result, energy prices have risen sharply across most countries worldwide.
Original article: toutiao.com/article/1861312358453260/
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