Will Russian oil be the biggest winner in the US-Israel war on Iran?
Al Jazeera
The price of Russian Urals has soared in recent weeks. How Russia – and other energy producing nations – could profit.
Russian oil is emerging as a key beneficiary of the US-Israeli war on Iran, as countries scramble to charter tankers following United States President Donald Trump’s decision to temporarily ease sanctions, analysts say.
Following a phone call with Russian President Vladimir Putin on March 10, Trump said the US would waive Russian oil-related sanctions on “some countries” to ease the shortage caused by Iran’s closure of the Strait of Hormuz, which in peacetime carries 20 percent of the world’s oil and gas from producers in the Gulf.
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