Russia appears to be the biggest financial winner amid the current energy crisis, which intensified after the US and Israeli airstrikes against Iran.
Moscow earned more than 7.7 billion euros in fuel exports in the first 15 days of the war in the Middle East alone.
Rising global oil prices and the waiving of US sanctions on Russian crude oil have played a major role in the rise of Russian energy exports.
According to data from the Center for Research on Energy and Clean Air (CREA), Russia’s oil exports increased by 14 percent in just the first 15 days of the war between the United States, Israel and Iran, reaching 372 million euros per day.
Moscow’s combined energy exports, including oil, gas and coal, reached €513 million a day, up from €472 million a day in February 2026.
Oil prices have soared since Iran closed the Strait of Hormuz, a key oil route through which nearly 20 percent of the world’s oil supply passes. It was closed after the United States and Israel launched an untested war against Iran.
Earlier, US President Donald Trump issued a 30-day waiver of sanctions against Russian oil, despite concerns from European leaders.
EU leaders have urged the US president to reconsider the waiver, warning that it could financially benefit Russia, which in turn would harm Ukraine amid the ongoing war between Russia and Ukraine.
