Russian oil price used for taxation exceeds budget target, helping state coffers

Group 1 - The price of Russian oil used for taxation has exceeded budget targets for the first time since January 2025, driven by rising global oil prices due to the Iran war [1][1] - Russian military spending has increased since the onset of the Ukraine war, contributing to a budget deficit of 3.45 trillion roubles ($43.70 billion), or 1.5% of GDP, in January-February [1][1] - The price of Russian oil for taxation reached 6,105 roubles per barrel, an 82% increase from February 27, surpassing the 2026 federal budget assumption of 5,440 roubles per barrel [1][1] Group 2 - Russian oil trading has seen a significant boost, with Urals oil sold to Indian ports for the first time at a premium to Brent crude, the international benchmark [1][1] - Despite the current increase in oil prices, there are concerns that this situation may be short-lived due to potential declines in global oil prices and a strengthening rouble [1][1] - Russian state oil and gas revenues fell by 44% in February to 432.3 billion roubles compared to the same month last year, attributed to lower oil prices and a stronger rouble [1][1]