Politico: Putin Benefits from Middle East Conflict

According to Politico, Vladimir Putin is the real winner of the Middle East conflict, as rising oil prices boost the Russian economy.

The US-Israeli attacks on Iran have led to a surge in oil prices, benefiting Russia at a crucial moment, as the cost of the war in Ukraine threatened its economic stability.

Following bombings of Iranian oil facilities, crude oil prices reached $118 a barrel, the highest level since 2022.

The Russian Ministry of Finance had initially projected a price of $59 a barrel for Urals crude oil. The price increase is a "gift" for Moscow, according to Vladimir Milov, former Deputy Minister of Energy of Russia.

The US Treasury Department issued a 30-day waiver, allowing India to buy Russian oil. US Treasury Secretary Scott Besent stated that the US could lift further sanctions on Russian oil.

Vladimir Putin's spokesman, Dmitry Peskov, stated that Russia remains a reliable supplier of oil and natural gas.

Energy analysts warn that it is too early to speak of a victory for Moscow, as the duration of the crisis will determine the benefit for the Russian economy.