Russia Profits From Middle East War, European Council President António Costa Warns
Key Takeaways
- Russia is the main beneficiary of the Middle East war, profiting from energy-market turmoil
- War diverted global attention from Ukraine, strengthening Moscow and financing its operations
- António Costa addressed EU ambassadors in Brussels, warning about geopolitical rivalries and rules-based order
Costa: Russia benefits
European Council President António Costa warned EU officials that the Israel–Gaza war has a strategic side-effect benefiting Russia.
“Published by Global Banking & Finance Review® Posted on March 10, 2026 2 min readLast updated: March 10, 2026 Published by Global Banking & Finance Review® Posted on March 10, 2026 2 min readLast updated: March 10, 2026 EU Council President António Costa warns that Russia is the sole beneficiary of the Middle East war, profiting from energy market turmoil and diminishing global focus on Ukraine, and urges renewed diplomacy and protection of international law”
He said the conflict diverts military resources and international attention away from Ukraine and raises energy prices, providing Moscow with extra revenue to finance its war.
Costa described Russia as the 'main beneficiary' and warned more bluntly that 'So far, there is only one winner in this war – Russia,' linking the Middle East crisis to consequences for Europe’s security and for Ukraine.
Impact on Ukraine and Order
Costa emphasized that the diversion of attention and material support undermines Kyiv by drawing military resources and international attention away from Kyiv and weakening support for Ukraine.
Observers cited by the EU conference linked this shift to a broader erosion of the international rules‑based order, noting that the Middle East crisis is reshaping great‑power leverage and resource flows.
Defending international norms
Costa framed the crisis as a stress test for global norms and institutions beyond the immediate Ukraine dimension.
“European Council President Antonio Costa has said that the United States is challenging the international rules-based order, warning that growing geopolitical rivalries are weakening the global system built on international law”
He urged preservation of the international rules-based order and called for a return to negotiations in the Middle East.
He underlined that only international law - not violence - can protect freedom and human rights.
Costa urged the EU to act to defend those principles as they come under pressure from multiple directions.
Regional risk and fallout
Costa also warned of wider geographic risk, saying that further escalation would threaten "the Middle East, Europe and beyond."
That line was used to underscore how regional conflict can have spillover effects for European energy, security and diplomacy.
Reporting around his remarks stressed that the current crisis sits alongside other strategic challenges — from Russia’s actions to China’s trade posture and strains in US policy — that together erode the rules‑based system.
Costa on Israel–Gaza effects
Costa used the EU Ambassadors' Conference to connect the Israel–Gaza war to shifting global power dynamics and economic flows.
“European Council President Antonio Costa said Russia is currently the main beneficiary of the war in the Middle East, warning that the conflict is strengthening Moscow while diverting global attention from Ukraine”
He warned that Russia is profiting from higher energy prices and that the conflict weakens support for Ukraine.
He urged coordinated EU action to defend international law and restart Middle East negotiations to prevent further escalation.
More on Europe
Unknown Attackers Kill French Soldier in Erbil, Macron Says
11 sources compared
Unidentified Attacker Plants Explosive at U.S. Embassy Entrance in Oslo; Oslo Police Investigate Possible Terrorism
12 sources compared
U.S. and Israel Kill Iran's Supreme Leader, Trigger Regional War
49 sources compared
France Deploys Warships To Eastern Mediterranean After Drone Strike On Cyprus
11 sources compared