The oil price spike won't fix Russia's strained finances, an analyst says

Fuente: Business Insider

Higher oil prices typically boost President Vladimir Putin's budget, which helps finance Russia's war in Ukraine. Sergei Fadeichev/Pool/AFP/Getty ImagesMiddle East conflict sends oil higher amid fears over Strait of Hormuz supply risks. Sanctions, discounts, and a strong ruble blunt the boost to Russia's oil revenue.