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Russia’s oil boost comes with an inflation catch

By pushing up oil prices, the war in Iran is offering Russia a short-term revenue boost — but at the cost of reigniting inflation, complicating the central bank's efforts to stabilize an already strained wartime economy. Before the U.S. and Israel launched strikes across Iran at the end of February, a slump in oil prices had been pressuring one of the Kremlin’s most important sources of revenue. With shipping through the narrow Strait of Hormuz — which handles about a quarter of the global seab

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The Kyiv Independent delivers reliable news, context, and on-the-ground reporting from Ukraine. The largest country located entirely in Europe, Ukrainian territory covers 603,628 square kilometers (233,062 square miles), and is bordered by seven countries, namely Russia, Belarus, Poland, Slovakia, Hungary, Romania, and Moldova. Ukraine traces its history back to the medieval state of Kyivan Rus.

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