If there is a country that has benefited from the war in the Middle East started on February 28 by the US and Israel It’s Russia. The decision of the Iranian Revolutionary Guard of (where approximately 20% of the world’s crude oil circulates) has caused a big increase in oil pricea raw material that is one of the main Russian assets.
He high military spending in the Ukrainian war, united with the sanctions on russian oil and the moderate-low price of a barrel of crude oilwere causing one in the country chaired by Vladimir Putin.
As if from a lifeline concerned, the armed conflict in the Middle East has reached skyrocket the price of Brent oil above $100 throughout these weeks. That increase in the price of Brent causes the cost of Russian Urals crude oil to also increase. Recently, the price of the Urals barrel has been at 99 dollars.
However, that Russian joy due to the great rise in the price of oil (and consequently, higher income) has turned into concern. Ukraine, aware of the oxygen boost that this upward movement in the price of crude oil represents for Moscow, has worked hard in recent weeks to attack some of the main Russian oil export routes.
Specifically, Ukrainian forces have launched several drone offensives against Russian ports in the that play a determining role when transporting Russian crude oil to third countries.
From the Reuters news agency they estimate that 40% of Russia’s oil export capacity is currently blocked. Additionally, repair work could take weeks, so Putin would be wasting the unexpected advantage that the increase in the price of crude oil provides him.
