00:00Is Russia profiting from the war in Iran?
00:07Russia's oil earnings have risen since the start of US-Israeli strikes on Iran, according to new data.
00:13Figures from the Center for Research on Energy and Clean Air show that, for the first 15 days of March,
00:20Moscow pocketed around 372 million euros a day from oil exports.
00:25That's about 14% higher than its average daily earnings in February.
00:30Looking at all fossil fuels combined, oil, gas and coal,
00:33Russia earns 7.7 billion from fossil fuel exports between the 1st and 15th of March.
00:39That's equivalent to around 513 million euros a day, up from about 472 million euros a day in February.
00:47The increase comes as oil prices climb above $100 a barrel amid tensions around Iran
00:53and disruption to the Strait of Hormuz, a key global shipping route to the country's south.
00:58Higher prices for globally traded oil can quickly translate into higher revenues for major exporters, such as Russia.
01:05At the same time, the US has issued a temporary waiver allowing countries such as India to purchase Russian oil
01:11already at sea.
01:12Most of Russia's fossil fuel exports go to Asia,
01:16with China and India together accounting for roughly three-quarters of its revenues.
01:20The EU has taken a different stance, with officials warning that relaxing sanctions against Moscow
01:25risks increasing its revenues as it continues to wage war against Ukraine.
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