Published
Whilst short-term surges in oil prices may bolster Russia's export earnings, analysts warn a protracted conflict in the Middle East could prove unpredictable for Moscow's economy.
Russia's Urals crude recently hit $90 per barrel, and the United States has temporarily eased sanctions on India to allow continued purchases of Russian oil amid global shortages.
However, sustained high energy costs could dampen industrial output in China and India, two economies on which Russia now heavily depends, potentially offsetting any budgetary gains from increased petroleum revenues.
Al Jazeera's Yulia Shapovalova reports from Moscow.
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#Russia #OilPrices #UkraineWar #IranWar #USIsraelWarOnIran #GlobalEconomy #Sanctions #China #India #GlobalEnergyMarket #Kremlin #Moscow
Russia's Urals crude recently hit $90 per barrel, and the United States has temporarily eased sanctions on India to allow continued purchases of Russian oil amid global shortages.
However, sustained high energy costs could dampen industrial output in China and India, two economies on which Russia now heavily depends, potentially offsetting any budgetary gains from increased petroleum revenues.
Al Jazeera's Yulia Shapovalova reports from Moscow.
Subscribe to our channel: http://bit.ly/AJSubscribe
Follow us on X : https://twitter.com/AJEnglish
Find us on Facebook: https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
Download AJE Mobile App: https://aje.news/AJEMobile
#Russia #OilPrices #UkraineWar #IranWar #USIsraelWarOnIran #GlobalEconomy #Sanctions #China #India #GlobalEnergyMarket #Kremlin #Moscow
- Category
- News24
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- Business and Economy, China, Energy
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