Russia's oil export revenues nearly doubled to $19bn in March despite sanctions

Russia's oil export revenues nearly doubled from USD 9.75 billion in February 2026 to USD 19 billion in March, according to data from the Kyiv School of Economics. For the full year 2026, revenues could reach USD 214 billion. Experts attribute the surge to the Middle East crisis, the blockade of the Strait of Hormuz, and Russia's shadow fleet supplying oil to China and India despite Western sanctions.

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