Russian President Vladimir Putin has commented on the effects of the war involving the United States, Israel, and Iran, comparing its consequences to the global crisis during the COVID-19 pandemic. Developments in the Middle East have already caused significant disruptions to international logistics, production, and supply chains, placing particular pressure on companies in the energy, metals, and fertilizer sectors. However, the overall consequences of the conflict remain difficult to predict, even for those directly involved.
Speaking to business leaders in Moscow, Putin said uncertainty surrounding the war’s future course is exceptionally high. There are already assessments suggesting that the economic impact could be comparable to that of the coronavirus pandemic, which significantly slowed global development.
Putin also criticized the response of Western countries, accusing them of double standards. While numerous statements were issued at the beginning of the Ukraine war, he noted a lack of comparable reactions to the current events in the Iran conflict.
The Kremlin also rejected reports that Russia is providing military support to Iran. Government spokesman Dmitry Peskov described such media claims as false and urged that they be ignored.
Speculation about a link between the Iran war and an alleged decline in Russia’s willingness to engage in peace negotiations with Ukraine was also dismissed. Peskov stated that although there had been some progress in talks, key issues—particularly territorial disputes—remain unresolved. Russia, he said, continues to be open to negotiations and remains in contact with the United States.
Meanwhile, Western media report that Russia is benefiting economically from the situation. Rising oil prices and relaxed sanctions could significantly boost revenues from oil and gas sales. Estimates suggest these revenues could nearly double within a month, reaching around $760 million per day.
Source: Zerohedge