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

Higher oil prices typically boost President Vladimir Putin's budget, which helps finance Russia's war in Ukraine. Sergei Fadeichev/Pool/AFP/Getty Images Middle 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. An analyst warns Moscow's budget strain will persist without sustained higher prices. Oil prices have surged after fresh conflict in the Middle East raised fears of supply dis...