Due to the situation in Iran, the price of Russian crude oil has risen to a 13-year high.

Driven by the rise in global oil prices related to the Iranian situation, the price of Russian crude oil has reached its highest level in over 13 years. According to data from Argus Media, Russia's flagship crude oil, Urals crude, reached $116.05 per barrel on April 2nd at the Primorsk port in Russia. This price does not include transportation costs and is nearly twice the average price of $59 per barrel assumed in Russia's budget for this year.