The Iran war’s global energy shocks are proving to be a boon for Russia — and may also benefit Tehran.
To cope with the shortfall of oil supply from the Middle East, Washington last week lifted sanctions on Russian oil that was already in tankers, a move that caught Kyiv by surprise, Semafor reported. The waiver has sparked a windfall for Moscow — and its shadow-fleet kingpin — after months of being squeezed by US sanctions: India has already bought 30 million barrels. The US is also weighing lifting restrictions on Iranian crude.
Washington for years deployed a sanctions architecture to constrict Moscow and Tehran’s economies.
Within three weeks of this war, “we’re tearing it to shreds,” an expert said. “It’s a complete strategic collapse.”
