Russia could get an additional $65 billion for its state coffers this year if higher oil prices remain resilient, Bloomberg reported this week, citing estimates made by economists. For the windfall to realize, prices need to remain around $90 per barrel of Brent for the rest of the year, according to the estimates.
Yet with many forecasters expecting even higher prices later in the year, topping $100 and more, Russia may gain a lot more, up to $73 billion in additional oil revenues. With gas prices high, too, Russian fossil fuel revenues are set…Russia Enjoys $65 Billion Windfall As Oil Rallies
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