News Summary

• Russia is the world's third-largest oil producer and exporter after the US and Saudi Arabia.
• Unlike many other oil exporters, Russia doesn't rely on the Strait of Hormuz for oil shipments.
• That has made the energy giant one of the few beneficiaries of the recent disruption to global oil markets.
• Goldman expects Russia's economy to grow just 0.9% this year, a slowdown from the 1% and 4.3% growth recorded in 2024 and 2025.
• But the country's current-account surplus will nearly double to 3.2% of GDP in 2026 from 1.7% in 2025.