Who needs the war, who needs the Power of Siberia 2. How Russia benefits from the conflict between Israel and Iran

Alexey Gromov, Principal Director on Energy studies at the Institute for Energy and Finance, commented to the newspaper Novye Izvestia on the current and possible long-term impact of the Iran-Israel conflict on Russian oil exports.

- Now the price of Brent is 72 dollars, that is, there is an increase of ten dollars. On the one hand, the demand for Russian oil is increasing, primarily from China. The second advantage for us is that, against the background of rising global oil prices, prices for Russian oil are also rising, which has been exceeding the price ceiling of $ 60 per barrel for the past few days. Let me remind you that two weeks ago our oil was selling at a price of 53-54 dollars per barrel. Now it's 62-63 dollars. A significant increase, says Alexey Gromov.

The global oil market is set up for a couple of weeks of shooting in the Middle East, and then everything will return to normal, he believes. But instability does not suit the main buyer of Iranian black gold, China. The celestial snake began to hedge risks.

— Strategically, China is thinking about diversifying its risks in the Middle East, and not only in this context, but also in the context of tariff wars with the US administration, and offers Russia to increase the volume of transit supplies through Kazakhstan by 2.5 million tons per year, — says the expert about the first results of the conflict.

A new chance for Gazprom's Power of Siberia-2

Although the Russian gas monopolist is not involved in the Middle East, it may unexpectedly receive support for the promotion of a new gas pipeline to China.

— China is strategically interested in the Power of Siberia-2 precisely against the background of deteriorating relations with America. It relied on American LNG, which was a significant resource in the long term, and partly on LNG from Qatar. The Middle East crisis is unlikely to accelerate negotiations on the Power of Siberia-2, although it will certainly support this topic, Alexey Gromov says.