Kathrine Frich
Global energy markets are being shaken by escalating tensions in the Middle East.
Disruptions to supply routes are sending prices soaring and reshaping global trade flows.
For Russia, the crisis is proving unexpectedly profitable.
Prices surge
The price of Russian oil has climbed above $100 per barrel for the first time in more than a decade, according to data cited by Money.pl.
The benchmark ESPO crude, exported via the Kozmino port in Russia’s Far East, reached record levels as demand surged.
Analysts say the spike is linked directly to disruptions in the Persian Gulf.
War windfall
Energy expert Dr. Przemysław Zaleski said the ongoing conflict is boosting Moscow’s revenues.
“Oil, gas, and weapons. Russia only makes money on these three things,” he said.
“The prolonged war in the Middle East is filling Putin’s coffers.”
The surge has been amplified by a temporary easing of US sanctions on Russian oil.
The 30-day waiver applies to millions of barrels already stored on tankers, increasing supply access to global buyers.
According to Zaleski, Russia could earn an additional $20 billion during a single month of conflict.
Demand spike
Attacks on infrastructure and shipping routes in the Gulf have disrupted supplies to Asia.
This has triggered a rush among buyers to secure available oil shipments.
As a result, Russian crude has become more attractive.
The Kozmino port plays a key role in supplying markets such as China, India and South Korea.
Prices for ESPO crude have jumped sharply, with weekly increases pushing it past $100 per barrel.
China in particular is expected to increase imports as demand grows.
Challenges remain
Despite rising prices, Russia still faces logistical and economic hurdles.
Shipping costs, insurance premiums and limited tanker availability have reduced export volumes.
However, analysts say higher prices are compensating for lower output.
The crisis is also affecting global gas markets.
Disruptions in Qatar and Iran have tightened supply, pushing countries to seek alternatives.
Zaleski said Russia could benefit further, particularly if countries like Turkey increase imports.
Sources: Money.pl, Kommersant, Bloomberg
