Russia’s oil export revenue nearly doubled in March as Western sanctions were partially eased during the ongoing war between Iran, the United States, and Israel. The International Energy Agency (IEA) reported that Russia earned about 19 billion dollars from oil exports last month, compared to significantly lower earnings in February.

According to the IEA, Russia’s crude and refined oil exports rose from 3.2 million barrels per day in February to 7.1 million barrels per day in March. The United States relaxed some restrictions originally imposed due to the Ukraine war, allowing countries to purchase oil from floating tankers until April 11. This temporary relaxation contributed to the sharp increase in Russia’s export income.

The report indicates that the combination of high global fuel prices and limited sanctions enforcement has boosted Russia’s oil revenue despite ongoing geopolitical tensions.