Vladimir Putin has warned that the consequences of the ongoing Middle East conflict are unpredictable and could have long-term global effects.
Speaking at the 35th Congress of the Russian Union of Industrialists and Entrepreneurs, Putin said the war is already disrupting international logistics, production, and supply chains.
He noted that key sectors such as hydrocarbons, metals, and fertilizers have been significantly impacted, reflecting the broader economic strain caused by the conflict.
“I suspect even those directly involved in the conflict cannot foresee its course, and for us, the uncertainty is even greater,” he said.
Putin also reiterated his criticism of sanctions imposed on Russia, describing them as unlawful and not backed by United Nations resolutions.
Meanwhile, Donald Trump has reportedly issued waivers allowing some countries to continue purchasing sanctioned Russian oil, as part of efforts to ease disruptions linked to the Iran war.
Reports cited by The Telegraph, referencing data from the Kyiv School of Economics, suggest Russia is currently earning over $750 million daily from oil sales, driven by increased demand and rising prices.
The report indicates that Russia’s oil and gas revenues could nearly double in March—from about $12 billion to roughly $24 billion with projections estimating total earnings could reach $218.5 billion in 2006 if current trends continue.
In Europe, Kaja Kallas warned that rising oil prices are enabling Russia to sustain its military operations in Ukraine.
Speaking at the G7 Foreign Affairs Ministers’ Meeting in France, she also called for an end to the Iran conflict, cautioning that its global consequences could be severe for economies and security worldwide.
