Iran US War LIVE: Russia Emerges as Energy Winner in the West Asia War | Vantage with Palki Sharma
Two weeks into the war in West Asia, global energy markets are in turmoil. Oil supplies from the region have been disrupted, prices have surged, and shipping through the Strait of Hormuz remains blocked.But amid the chaos, one country appears to be benefiting — Russia.
With global supplies tightening, the United States has issued a temporary sanctions waiver, allowing buyers like India to resume purchases of Russian crude. Indian refiners have already moved quickly, securing tens of millions of barrels of Russian oil to compensate for the supply shortfall.
The surge in demand is generating hundreds of millions of dollars in additional revenue for Moscow, highlighting the shifting realities of global energy politics.
However, analysts warn that even increased Russian supply cannot fully replace the massive disruption caused by the closure of the Strait of Hormuz — where roughly 20 million barrels of oil per day have been taken off the market.
As governments release strategic reserves and grant sanctions waivers, the world is scrambling to stabilise energy markets. But with the conflict ongoing, the global oil crisis is far from over.
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