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Russia Holds 2026 Growth Forecast Amid Rising Oil Prices

3/30/2026

Center

Putin Sustains Military Spending

Russian government maintains its 2026 growth forecast at 1.3%, despite earlier talks of a 0.7% cut.
Oil prices rose due to disruptions in the Strait of Hormuz, improving Russia's financial outlook and allowing higher military spending.
Russia could gain 3-4 trillion rubles ($36.6-48.8 billion) in oil revenues if prices average $75-80 per barrel.
President Vladimir Putin reaffirmed Russia's commitment to continue military operations in Ukraine to secure Donetsk and Luhansk.

Left

Khamenei Killed, Peace Hopes

Ayatollah Ali Khamenei, Iran's Supreme Leader, was killed in a U.S.-Israeli strike, raising peace hopes.
Oil rises to $117 per barrel after Iranian attacks and the Strait of Hormuz blockade.
The United Kingdom faces diesel prices, prompting calls to rethink a fuel duty increase.
Australia, Egypt, Myanmar, Pakistan, the Philippines, Thailand, and Sri Lanka have enacted energy-saving measures.
Vietnam has set a 0% value-added tax on fuel to alleviate costs.

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Putin Sustains Military Spending

Russian government maintains its 2026 growth forecast at 1.3%, despite earlier talks of a 0.7% cut.
Oil prices rose due to disruptions in the Strait of Hormuz, improving Russia's financial outlook and allowing higher military spending.
Russia could gain 3-4 trillion rubles ($36.6-48.8 billion) in oil revenues if prices average $75-80 per barrel.
President Vladimir Putin reaffirmed Russia's commitment to continue military operations in Ukraine to secure Donetsk and Luhansk.

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