Russia in April 2026: the most important developments in economy
Russia's economy in April 2026 was shaped by the Iran war and the disruption around the Strait of Hormuz, which raised demand for Russian oil. The United States extended a waiver allowing countries to buy Russian oil on 18 April, covering more than 100 million barrels and running until 16 May, after an earlier waiver for India had expired; the Treasury later extended relief for another 30 days. Reuters calculations put Russia's main oil revenue at 9 billion dollars in April, roughly double the earlier level, and Indian purchases of Russian crude reached a near-record. Senate Democrats and Ukraine's President Zelensky criticised the waivers. Malaysia, Indonesia, the Philippines and Thailand sought more Russian oil or fuel.
Energy links with Europe were disrupted. On 22 April Berlin said Russia would stop Kazakh oil flows through the Druzhba pipeline to the Schwedt refinery in Germany, and Germany looked for an alternative Polish route. Oil flows through Druzhba to Hungary resumed after a suspension. The same day EU envoys approved a 90 billion euro loan for Ukraine and a 20th package of sanctions on Russia, which Moscow called unlawful. Leaders in Hungary and Slovakia urged the EU to drop sanctions on Russian energy, while Italy's prime minister said it was too early to tap Russian gas. Russia's Kremlin said it could sell gas to the EU if any surplus remained.
At home, Ukrainian drone strikes hit the Baltic ports of Primorsk, the Black Sea terminals at Novorossiysk and Tuapse, and refineries. Putin cited reasons for a second consecutive monthly fall in GDP, and on 24 April the central bank cut its key interest rate to 14.5 percent. The central bank chief said Russia faced its first-ever labour shortage. Russia weighed a windfall levy on some businesses. Internet restrictions and a ban on VPNs disrupted Telegram and payment services, and the Kremlin said the curbs were temporary.
Rosatom completed the evacuation of more than 600 employees from Iran's Bushehr nuclear plant after an attack. Russia sent oil tankers to Cuba despite the US embargo, and a Russian superyacht sailed through the blockaded Strait of Hormuz.
by WorldBrief & Maksim Micheliov | AI-generated summary
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