Russia Emerges as the Early Winner of Iran War
Moscow rushed to load crude onto tankers to take advantage of soaring oil prices triggered by Iran’s effective closure of the Strait of Hormuz.
After two weeks of fighting, the one clear winner to emerge from the regional war engulfing parts of the Middle East seems to be Russia.
Moscow rushed to load crude onto tankers to take advantage of soaring oil prices triggered by Iran’s effective closure of the Strait of Hormuz. A tariff waiver courtesy of Donald Trump, whose administration is under growing pressure over spiking gasoline prices, now permits buyers to purchase those barrels without fear of sanctions tied to the Kremlin’s 12-year war on Ukraine.