Russia has earned around €6 billion from fossil fuel exports since the start of the war involving Iran, according to data from the Centre for Research on Energy and Clean Air (CREA).
The figures suggest Russia received an additional €672 million in revenue during March as global oil, gas and coal prices surged by about 14% compared with February. Most of the increase, roughly €625 million, came from higher oil revenues as energy markets reacted to disruptions caused by the conflict.
The spike comes as the International Energy Agency warned the war had triggered the largest oil supply disruption in history. Higher fossil fuel revenues are particularly significant for Moscow, as energy exports remain a crucial source of funding for government spending and military operations.
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