"We are seeing a significant increase in demand for Russian energy resources in connection with the war in Iran. Russia has been and remains a reliable supplier of both oil and gas including pipeline gas and liquefied natural gas, and it also remains capable of guaranteeing the continuity of all deliveries for which contracts have been concluded."
"The current crisis in the Middle East has led to questions in some quarters about whether to go back to Russia or not. International Energy Agency Executive Director Fatih Birol suggested that looking to Russia for gas supplies will be economically and politically wrong."
The Strait of Hormuz closure from Middle East conflict cuts off one-fifth of global oil and liquefied natural gas supplies. Russia, currently engaged in its Ukraine war, positions itself as a reliable energy alternative. The Kremlin reports increased demand for Russian energy products following the conflict. The US Treasury granted India a 30-day waiver to purchase Russian oil at sea. However, the International Energy Agency warns against returning to Russian energy dependence, citing economic and political risks. This situation presents Russia an opportunity to benefit from global energy disruptions while maintaining its existing conflicts.
#energy-security #russian-energy-exports #middle-east-conflict #global-oil-supply-disruption #geopolitical-energy-strategy
Read at www.aljazeera.com
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