Putin says Russia must take care not to squander its higher oil revenues

Record ID: 2370151

  • Title: Putin says Russia must take care not to squander its higher oil revenues
  • Date: 26th March 2026
  • Summary: MOSCOW, RUSSIA (MARCH 26, 2026) (RUSSIAN POOL) VLADIMIR PUTIN ARRIVING ON STAGE PEOPLE IN THE HALL LISTENING PUTIN APPROACHES TO PODIUM PARTICIPANT FILMING PUTIN ON SMARTPHONE (SOUNDBITE) (Russian) RUSSIAN PRESIDENT, VLADIMIR PUTIN, SAYING: "Now that the prices of our traditional exports are rising, but the markets are in turmoil, there may be a temptation to take advantag
  • Embargoed:
  • Keywords: Putin Russia economy oil
  • Location: MOSCOW, RUSSIA
  • City: MOSCOW, RUSSIA
  • Country: Russia
  • Topics: Europe,Government/Politics,International Trade
  • Reuters ID: LVA001761626032026RP1
  • Aspect Ratio: 16:9
  • Story Text:President Vladimir Putin said on Thursday (March 26) that Russian companies and the government should take a cautious approach when deciding how to spend windfall gains from higher oil prices resulting from the war in the Middle East.
    The spike in oil prices has made Russia a major beneficiary of the war that the United States and Israel launched against Iran on February 28.
    "Now that the prices of our traditional exports are rising, but the markets are in turmoil, there may be a temptation to take advantage of the situation," Putin told business leaders in Moscow.
    He said this temptation could involve squandering the extra revenue, paying it out in company dividends or, in the state’s case, expanding budget spending.
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