Russia
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
