Hormuz Disruption Fuels Russian Oil Surge to $62, Boosts Kremlin Finances

• Strait of Hormuz disruption drives Russian oil prices to $62, significantly strengthening Kremlin finances.
• Russian oil prices climbed from under $40 to $62 per barrel, surpassing the 2026 budget benchmark of $59.
• Qatar's halt in LNG production intensifies global competition, increasing demand for Russian energy supplies.
• Higher oil prices bolster Russia's ability to fund its war in Ukraine, reversing January's record budget shortfall.
• Experts confirm Russia as a "big winner" from the energy turmoil, with India and China deepening reliance on its oil.