Shares of Russia’s Largest Oil Companies Rise by $25 Billion Amid War in Iran
The market capitalization of leading Russian oil companies on the Moscow Exchange has reached multi-month highs following the start of the U.S. and Israeli military operation against Iran.
This was reported by The Moscow Times.
Since 27 February, the combined value of giants such as Rosneft, Lukoil, Gazprom Neft, Surgutneftegas, and Tatneft increased by 1.969 trillion rubles. The largest surge was shown by Rosneft shares, which rose 25% in just one and a half weeks, adding more than one trillion rubles to the company’s market value amid the most severe energy shock since the 1970s.
The rapid rise in quotations occurred after the price of Russian Urals crude oil climbed to $70 per barrel, while just two months ago it traded at around $40. A temporary U.S. allowance for oil sales to India without sanctions consequences enabled Russia to sell accumulated stocks at sea, with raw materials in Indian ports now being sold at a premium to the Brent benchmark. Experts estimate that this development brings Russian oil producers an additional $8–10 million in daily revenue, effectively offsetting previous logistical difficulties and revenue shortfalls.
While Western countries are trying to stabilize the global market, critics warn that easing restrictions gives the Kremlin billions of dollars to finance its aggression. Analysts at the German Institute for International Security Problems note that removing barriers will not solve the global shortage problem but will significantly simplify and reduce the cost of exports for Russia. The further dynamics of the aggressor’s oil sector revenue will depend on the duration of Washington’s temporary permissions and the intensity of hostilities in the Persian Gulf region.
Global oil prices surged sharply to over $90 per barrel after Qatar’s Energy Minister Saad Al-Kaabi warned of a possible halt in oil and gas production in Persian Gulf countries.
Amid the war in the Middle East, markets reacted with a sharp drop in stocks and a spike in oil prices. The Dow Jones fell 601 points, and U.S. crude jumped to $78.80 per barrel — the highest level since mid-2024. Investors are seeking safe assets, the U.S. dollar strengthened, and the yield on 10-year U.S. Treasury bonds rose to a three-week high.
