The global oil market is currently experiencing upheaval due to the recent imposition of new tariffs by the United States on several countries, leading to a significant impact on Russia’s budget. Brent crude oil futures have dropped to their lowest point since April 2021, causing concerns among officials. Kremlin Spokesman Dmitry Peskov has voiced apprehension over the market’s instability and emphasized that Russia is implementing measures to protect its economy from further repercussions. The fluctuating oil prices have put pressure on oil-producing nations like Russia, prompting them to closely monitor the situation and take necessary steps to mitigate the effects on their financial stability. The ongoing developments in the oil market are being closely watched by experts and investors alike for any potential implications on the global economy.