Editor’s Note: This is from March. Trump said yesterday that Russia’s oil will flow. No one is covering it, so here is the story from a few months ago:
The Iran war has handed Russia’s beleaguered economy a much-needed lifeline.
High oil prices are boosting the Kremlin’s coffers, helping plug a hole in its federal budget and sustain the war effort in Ukraine. But beyond oil, a global scramble for natural gas and fertilizer supplies – also choked off by the Iran conflict – could further boost Russia’s financial gains.
“The biggest winner of the (Iran) conflict is Russia,” said Ben Cahill, a senior associate at the Center for Strategic and International Studies (CSIS), a think tank in Washington, DC. The Kremlin can now sell previously discounted Russian crude “at full market prices,” marking “a pretty big turnaround” for the economy, he added.