Oil prices spiked to nearly $120 per barrel this week, their highest level since the pandemic. At the opening of the Asian markets on Friday, the price stayed above $100 per barrel, despite Trump bending the knee to the Kremlin dictator.

The Financial Times reported Thursday that Russia was already the biggest winner from Trump’s war, raking in as much as $150 million per day in extra budget revenues from oil sales.

But Treasury Secretary Scott Bessent, after announcing the move to release the sanctioned oil, said it “will not provide significant financial benefit to the Russian government.”