Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented on the possible impact of US and Israeli military strikes on Iran on Russian oil exports to the Moscow radio station:
"A military strike on Iran was expected and has already been included in current oil prices. The emotions at the beginning of the week are likely to lead to further price increases. And for a while, they may rise to around $80, maybe even a little higher. This is certainly beneficial for Russian oil suppliers and the budget. In other words, this will in any case lead to a slight increase in the cost of Russian oil sales.
In the future, it depends largely on how this conflict will develop. Will it seriously affect Iran's oil export infrastructure? Will Iran respond by attacking oil facilities in other Persian Gulf countries? In the end, will there be any problems with freedom of navigation in the Strait of Hormuz, which is the biggest concern? All this ultimately affects the cost, firstly, of the oil itself, and secondly, if it comes to blocking or mining a partial strait, it will affect the costs of Russian suppliers."
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