Russia Faces Escalating Economic Strain as Oil Prices Plummet

A sharp 10% drop in global oil prices threatens Russia's ability to fund military operations in Ukraine, with potential US tariffs adding further pressure.

• Global oil prices have fallen by over 10%, with benchmarks Brent and WTI experiencing significant declines last week.
• The Kremlin has expressed heightened concern over the economic impact, describing the situation as 'extremely turbulent and emotionally charged.'
• Russia's reliance on oil revenues to finance its military campaign in Ukraine is intensifying the urgency of the situation.
• The Russian Central Bank has warned of the risk of a prolonged oil price collapse, recalling economic crises of the past.
• US President Trump has suggested imposing secondary tariffs on Russian oil imports, potentially ranging from 25% to 50%, further exacerbating Russia's economic challenges.

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