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Posted on 03/29/2026 5:13:08 PM PDT by Apparatchik
The U.S. war on Iran set up Russia’s economy for a major rescue after oil prices soared after the closure of the Strait of Hormuz. But if President Vladimir Putin was expecting a huge windfall, that view may literally be going up in smoke.
With one-fifth of the world’s oil supplies cut off, Russian oil suddenly became much more valuable. After trading at a steep discount to Brent crude, Urals oil nearly reached parity with the global benchmark. The U.S. also temporarily lifted sanctions on Russian crude, despite warnings that the move would provide a vital influx of revenue to the cash-strapped Kremlin.
Just before President Donald Trump’s war on Iran, Russia’s oil and gas revenue had collapsed by 50%, and the government was draining its reserves to help pay for its war on Ukraine, now entering its fifth year, as budget deficits widened.
The spike in oil made Russia one of “the single biggest winners in the near term” from the Iran conflict, Wichita State University international business professor Usha Haley told Fortune‘s Marco Quiroz-Gutierrez last week. “It has actually rescued Russia’s oil revenues from decline and a decline over a very long period.”
Then Ukraine launched a series of drone attacks on Russia’s top export hubs, including Novorossiysk on the Black Sea as well as Primorsk and Ust-Luga on the Baltic Sea.
According to Reuters calculations, about 40% of Russia‘s crude oil export capacity was shut down on Wednesday, marking the most severe oil supply disruption in the modern history of Russia.
(Excerpt) Read more at fortune.com ...
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At least this is a little more believable.
But on the other hand, who cares?
That’s a shame.
(((PING!)))
To be added to the zeeper follies pinglist,
ping me bro... we need laughter!
PING!
it’s helping Alberta.
We really do not know what to believe especially if it is related to the Ukraine war. It’s even money we will see a story that is the opposite of this one within a day or two.
You do.... Brent Crude is at 115 bucks and headed upward.
I think we’re entering the early stages of the next world war.
Just as Japan’s invasion of Manchuria in 1931, set the wheels in motion.
“Russia was expecting a windfall from soaring oil prices, but relentless Ukrainian drone attacks are devastating nearly half its export capacity”
...and yet oil prices, while higher, are FAR BELOW record levels and are still close to historic levels (inflation-adjusted).
And all the while, the world’s largest oil exporter, Saudi Arabia, is bottled-up in the Persian Gulf (and with the Houthis), while Russia, the world’s second largest oil exporter is crippled?
Did the demand for crude oil simply ‘disappear’ virtually overnight, thus allowing oil prices to remain moderate and also stable?
Bottom line, more wishful thinking on the part of the Neocons regarding Russia. Probably time to hit-up Trump for more Zelensky bucks.
Regardless of this latest story of the end of Russian oil ports, it is my understanding the sanctions elimination is for Russian oil at sea, of which there is a great deal — and for which a lot of money will be paid.
with photos:
https://www.yahoo.com/news/articles/damage-drone-hit-russian-oil-171419664.html
serious damage
It’s about 400 miles from Ukraine to St. Petersburg.
Facts on the Ground. Ukies continue to lose ground.
Fighting on the Kupiansk Direction Intensifies⚔️The Flame of the Middle East Flares Up🔥MS 2026.03.29
I haven’t seriously considered that till the chill that ran through me after reading your post. No sarcasm, I am being serious.
it still boggles my mind at how useless the russkie air defenses are ... russia is truly a 2nd world country with nukes ...
“Ust-Luga got hit for the fourth day in a row. “Cardboard drones made of shit and sticks,” he says, keep knocking out one of Russia’s biggest export ports at the highest oil prices in six years, and nobody can intercept them.”
tells you everything you need to know about the hapless, useless russkie air “defenses” ... it still blows my mind that russia apparently has such pathetic air “defenses” ... that’s a country that at one time was considered a world power ...
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