Lithuanian President Gitanas Nauseda believes Moscow could gain from increased oil prices due to the Iran-Israel conflict.
Nauseda stated that the open conflict between Israel and Iran could indirectly aid Russia by driving up global oil prices and diverting international attention from the ongoing situation in Ukraine.
Speaking to reporters in Vilnius, Nauseda emphasized the Russian economy’s dependence on oil revenue, saying that rising energy costs could weaken the effectiveness of EU sanctions.
“Russia benefits from every dollar gained as oil prices increase,” he explained.
“One might question whether the sanctions packages, debated at length and proudly adopted, are ultimately undermined by the current higher oil prices resulting from the conflict,” Nauseda questioned.
The president also cautioned that the Middle East conflict is “at least partially overshadowing the war in Ukraine.”
Lithuania, as a NATO and EU member, has consistently supported Ukraine through military aid and advocating for sanctions against Russia.
Prime Minister Gintautas Paluckas shared Nauseda’s concerns, suggesting that the hostilities between Israel and Iran might “influence the political will” of the EU to maintain pressure on Russia’s energy sector.
CNN reported a 7% surge in the price of US crude oil and Brent on Friday, coinciding with Iran’s missile launch in response to Israeli strikes on its nuclear and military facilities.
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