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News ReporterB to European Federalists@lemmy.world · 3 hours ago

Higher oil prices carry a sting in the tail for Russia — resurgent inflation

kyivindependent.com

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Higher oil prices carry a sting in the tail for Russia — resurgent inflation

kyivindependent.com

News ReporterB to European Federalists@lemmy.world · 3 hours ago
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By pushing up oil prices, the war in Iran is offering Russia a short-term revenue boost — but at the cost of reigniting inflation, complicating the central bank's efforts to stabilize an already strained wartime economy. Before the U.S. and Israel launched strikes across Iran at the end of February, a slump in oil prices had been pressuring one of the Kremlin’s most important sources of revenue. With shipping through the narrow Strait of Hormuz — which handles about a quarter of the global seab
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