Russia is capitalizing on the Iran war, benefiting from surging oil prices as Tehran's closure of the Strait of Hormuz disrupts global energy markets. The conflict has pushed the price of Russian Urals crude from $57 to $115 per barrel, generating nearly $9 billion monthly for Moscow, according to experts. The U.S. has issued a 30-day waiver allowing purchases of sanctioned Russian oil to stabilize prices, while Russia has also seen increased demand for helium, aluminum, and nitrogen fertilizer.
Meanwhile, Russia's strategic relationship with Iran is under scrutiny. Despite a 2023 partnership treaty, Moscow has leveraged the war for economic gain, including sharing satellite intelligence with Iran to target U.S. assets. Some analysts warn that Russia's short-term gains may come at long-term costs as the Middle East reshapes in ways Moscow cannot control.