Russia's oil export revenues increased - It earned about $19 billion in March alone
Russia's revenues from crude oil and refined products rose in March, recovering from February when they fell to their lowest level since the start of the Ukraine conflict in 2022, as prices rose due to the Iran war, the International Energy Agency said on Tuesday.
Russia's revenues from these products are a vital part of the state budget and are necessary to support increased military spending.
The Paris-based IEA said Russia's crude oil exports rose by 270,000 barrels per day last month compared with February, to 4.6 million barrels per day, largely driven by higher seaborne shipments, while the Druzhba pipeline remained out of service.
Flows via the Druzhba pipeline to Hungary and Slovakia through Ukrainian territory have remained closed following attacks on pipeline infrastructure in late January.
The IEA also said Russia's export revenues from oil and its byproducts almost doubled, to $19 billion in March from $9.75 billion in February, as global prices rose. Russia's crude oil production rose last month to 8.96 million barrels per day from 8.67 million barrels per day in February.
The agency also said Russia may have difficulty increasing oil production above levels seen at the start of the first quarter in the short term, given damage to port and energy infrastructure.
Russian ports and refineries on the Baltic and Black Seas have been repeatedly damaged by Ukrainian drone attacks.
"Today, in times of development, we want you as partners" - Minister Hoxha: The shared vision should turn into cooperation
Full speech of the Minister for Europe and Foreign Affairs, Ferit Hoxha, at the Diaspora Summit Today we are not gathering simply for another meeting. As......
The insurance market consolidates its financial position - According to AFSA, "Non-Life" remains the main contributor to the result
During 2025, the insurance market has further consolidated its financial position, reflecting a significant improvement in performance compared to 2024.......
Drastic decline for the US Dollar – Franc and Pound strengthen
The US dollar has recorded a drastic drop in value this morning compared to the previous day, losing almost 1 point as it was bought today for 80.7 lek and......
EU, more fuel subsidies - Aimed at coping with wartime price increases
The European Commission wants to allow countries to release more public money to help businesses with fuel and fertilizer bills as governments rush to offset......
Fuel shortage for aircraft warned - European Commission intervention requested to resolve the situation
Europe could face jet fuel shortages within weeks, airports body warns Europe's airport industry group has warned that the continent could face a systemic......
EU doubles tariffs on imported steel - Aims to protect industry from strong competition from China
The European Union is significantly strengthening its steel protection measures, after MEPs and member states decided to double customs duties on steel......
Record sales of electric cars in March - Global trend after fuel price increase
High fuel prices in Europe steered car buyers toward electric vehicles in a record March and led to the first month of global growth in electric vehicle......
Diaspora Summit, President Bajram Begaj: You are our power and strength!
The President of the Republic, His Excellency Bajram Begaj, today welcomed the opening of the IV Summit of the Albanian Diaspora. During this speech,......
