The War With Iran Could Be a Financial Lifeline for Putin
Newser • • world
Key Points:
- Russia's oil and gas revenues, crucial for its war financing, hit a five-year low due to sanctions and falling prices, but disrupted Gulf oil supplies could redirect buyers like India and China toward more Russian oil, enhancing Moscow's leverage.
- Energy expert Sergey Vakulenko notes that with a significant portion of global oil supply and seaborne trade locked up, Russia stands to benefit, as some oil previously stuck on tankers will likely find buyers at better prices.
- The price of Russia's Urals crude has rebounded from a $40-per-barrel low in February to $57, supported by a 13% rise in Brent crude to $82 per barrel amid the conflict.
- The duration of the conflict is critical
