Closure of Strait of Hormuz Boosts Demand for Russian Oil
The recent closure of the **Strait of Hormuz** due to U.S. and Israeli military actions has increased global demand for **Russian crude oil**, with Russia reportedly selling oil worth $150 million per day.
In response to the geopolitical tension and the impact of the strait’s closure on global oil prices, the **United States** has temporarily lifted restrictions on Russian oil sales to stabilize the market.
According to the **Financial Times**, Russia has sold oil primarily to **China** and **India** in recent days, earning approximately $2 billion in tax revenue from these transactions alone.
Analysts say that the disruption at the Strait of Hormuz has strengthened Russia’s position in the energy market, allowing it to leverage rising demand while navigating global sanctions.
