Iran-Israel war assists Russia in mitigating sanctions
(MENAFN)
The ongoing conflict between Iran and Israel may inadvertently help Russia by driving up oil prices and shifting international focus away from Ukraine, Lithuanian President Gitanas Nauseda said on Saturday.
The ongoing conflict between Iran and Israel may inadvertently help Russia by driving up oil prices and shifting international focus away from Ukraine, Lithuanian President Gitanas Nauseda said on Saturday.
On Friday, Israeli airstrikes hit Iran’s military and nuclear facilities, prompting a dramatic escalation in hostilities between the two countries.
Speaking in Vilnius, Nauseda explained that Moscow's revenue depends largely on oil and that a rise in prices could undermine European Union sanctions. “You get to live off every dollar when oil prices rise — so, unfortunately, it’s Russia that benefits from this,” he said.
He also raised concerns that the crisis in the Middle East might “at least somewhat overshadow” the war in Ukraine, adding that this could affect European unity in applying pressure on Moscow.
Prime Minister Gintautas Paluckas supported Nauseda’s view, warning that the Iran-Israel conflict could affect the EU’s resolve to maintain tough sanctions against Russian energy.
According to CNN, US crude and Brent prices jumped by 7% on Friday following Iran’s retaliation against Israel.
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