Russia eases budgetary pressure.

The Middle Eastern conflict in recent weeks and the blockade of the Strait of Hormuz have disrupted global energy markets. Fluctuations in oil prices have helped ease pressure on Russia's budget, which is already burdened by Western sanctions.

There was a time when Russian oil prices suffered unprecedentedly deep drops. In the first two months of this year, the country's oil and gas revenues fell by as much as 50% compared to the same period last year. But now the situation has changed.

According to the Izvestia News on March 23, with Urals oil prices at $106 per barrel, the Russian budget could receive an additional 3.5 trillion rubles, nearly $42 billion.

According to TASS experts, the 2026 federal budget is planned based on a conservative price of $59 per barrel for Urals crude oil; every $10 increase in oil price per barrel will bring $1.6 billion per month to the state budget through mineral extraction taxes and export revenues.

According to analysts, Russia's oil demand has increased beyond all expectations. The average price of Urals crude oil in February was around $45 per barrel, but it has now increased by almost 2.5 times. A positive point noted by the Russian press is the sharp narrowing of the price difference between Urals and Brent crude. This is because Urals oil has moved from being an embargoed oil to a legal oil.

Previously, according to Kommersant, due to the risk of a global energy crisis, the US granted permission to lift restrictions on Russian crude oil. This permit, valid until April 11th, includes unlimited geographical exports. By that time, approximately 19 million barrels of oil and more than 300,000 tons of petroleum products could be sold.

According to analysts, if oil prices remain high for a few more months, the Russian Finance Ministry will have some breathing room as it eases pressure on the budget. However, high oil prices alone will not completely solve the problem, as budget spending is currently increasing. Russia's budget deficit in the first two months of 2026 was over 3.4 trillion rubles, equivalent to 1.5% of GDP.

According to analysts, rising oil prices offer an opportunity to offset Russia's budget deficit. However, this is not a panacea. The Russian government has planned to cut 10% of non-essential budget spending to preserve the national welfare fund.

Source: https://vtv.vn/nga-giam-ap-luc-ngan-sach-100260324122816531.htm