Russia has resorted to avoiding the tariffs imposed by US President Donald Trump, yet the Russian budget is still suffering losses due to Washington’s trade war.
This is reported by Business • Media
According to information published in The Telegraph, the threat to Russia is increasing due to a sharp decline in oil prices. Traders predict a global economic slowdown that could be triggered by the introduction of tariffs.
This will not only cost the Kremlin tens of billions of dollars in lost oil sales revenue but also threaten its military machine.
If the US falls into recession, oil prices could drop to $50 per barrel by December 2026. In the event of a global downturn, the price could fall to $45. If the growth rate of the global GDP slows down and OPEC+ does not cut production, then by the end of 2026, the price of Brent oil could fall below $40 per barrel.
For the Russian budget, every $1 decrease in oil prices, if maintained for a year, costs $2.7 billion annually in lost oil export revenue. If prices fall to $50, Putin could lose approximately $67 billion.
Moreover, Bloomberg reports that oil supplies from all Russian ports have decreased to 3.23 million barrels per day over the past month, the lowest figure in a month.