Russia Gains Billion-Dollar Windfall as Iran War Pushes Oil Prices Higher

Russia emerged as a clear economic winner from the war in Iran, as global oil prices surged.

“How the Iran War Gave a New Lease on Life to Russia's Oil and Gas Industry - Author: Ogni Podovkin and Brin Windsor - Role: BBC Monitoring - Reading time: 6 minutes While the war between the United States and Israel against Iran has unsettled the entire Middle East, the crisis has turned out, in an unexpected way, to Russia's benefit”

BBC

The Guardian explained Putin’s Russia experienced a dramatic reversal in fortunes.

BBC

Al Arabiya reported Russia's revenues from the energy-price surge amounted to billions of dollars.

Russia deepened military involvement in the Iran war.

European intelligence assessed Russia was preparing to send drones to Iran.

CBS News

The Iranian Ministry of Defense confirmed receiving Russian drones.

Bombing of oil fields and tanker attacks created uncertainty over crude supply.

Iran allowed 1 million barrels to pass through the Strait of Hormuz.

Kharg Island terminal remained closed, removing about 3 million barrels per day.

Iran opened new export routes through Gulf ports.

Iran began investing in Suez Canal transshipment hubs in Egypt.

DW

Saudi Arabia and UAE pushed to consolidate market share.