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Russia earned €6bn from fossil fuel exports since start of Iran war, data suggests

Figures from thinktank show Russia received extra €672m in revenues from oil, gas and coal during March so farBusiness live – latest updatesMiddle East crisis – live updatesRussia has received €6bn (£5bn) from selling its fossil fuels in the fortnight since the start of the US-Israel war with Iran, data suggests.The revenues imply Russia made an extra €672m in oil, gas and coal sales during March, as combined average daily prices have surged by 14% from February. Continue reading...

Mar 12, 2026 &03031212202631; 14:03 UTC www.theguardian.com

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Positive for markets

Sentiment score: +65/100

Moderate impact Short-term (days)

WHAT THIS MEANS

Russia has generated €6 billion in fossil fuel export revenues since the Iran-Israel conflict began, with March showing an additional €672 million boost as oil, gas, and coal prices surged 14% from February levels. This geopolitical tension-driven commodity price spike benefits Russia's energy sector despite Western sanctions.

AI CONFIDENCE

75% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Oil (WTI Crude)

CL=FCommodity

Expected to rise

Crude oil prices surged 14% due to Middle East geopolitical tensions and supply concerns

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Gold Futures

GC=FCommodity

Expected to rise

Energy commodity complex strengthening from regional conflict premium

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Euro / US Dollar

EURUSDCurrency

High volatility expected

Energy price volatility and geopolitical risk affecting EUR strength relative to USD

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Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European energy stocks may face headwinds from sanctions concerns despite price gains

PRICE HISTORY

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⚡ SUGGESTED ACTION

Long energy commodities (CL=F, GC=F) on sustained geopolitical tensions, but monitor for ceasefire developments. Consider hedging European equity exposure due to sanctions escalation risks offsetting commodity gains.

KEY SIGNALS

14% commodity price surge in MarchGeopolitical premium from Iran-Israel conflictRussia energy revenue acceleration despite sanctionsSupply disruption concerns supporting prices

SECTORS INVOLVED

EnergyOil & GasCommoditiesGeopolitical Risk

Analysis generated on Mar 17, 2026 at 00:01 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by The Guardian Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Russia earned €6bn from fossil fuel exports since start of Iran war, data suggests

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