Steve Rosenberg: Russia seeks diplomatic and economic gains from Iran war

Steve Rosenberg: Russia seeks diplomatic and economic gains from Iran war

In just one week, this event has occurred twice. A telephone conversation between the presidents of Russia and Iran took place. As the US and Israel carry out strikes on Iran, Russian President Vladimir Putin positions himself as a global peacemaker. This claim isn’t easily accepted. After all, it was the Kremlin leader who ordered Russia’s full-scale invasion of an independent sovereign nation in 2022. Back then, the UN General Assembly had previously condemned Russia’s invasion of Ukraine as a breach of the UN Charter.

Russia maintains a “Comprehensive Strategic Partnership” with Iran. Only this week, Putin reaffirmed the Kremlin’s “unwavering support” for Tehran. Yet their alliance doesn’t include a mutual defense treaty. Instead, Moscow has proposed mediation in the conflict. According to the Kremlin, during Monday’s call with US President Donald Trump, Putin “expressed several thoughts aimed at a swift diplomatic resolution of the Iran conflict, based among other things on contacts with leaders of Gulf states, the president of Iran, and leaders of other countries.” For Russia, this is a chance to enhance its standing in the Gulf and Middle East—while positioning itself as a power with global influence.

The Kremlin also sees an opportunity to strengthen ties with Washington. It views its relationship with the Trump administration as advantageous to its war efforts in Ukraine. That explains why Putin has avoided publicly criticizing Trump over the Iran war. “Putin wants to be helpful,” Trump stated after the conversation. “I said, ‘You could be more helpful by getting the Ukraine-Russia war over with. That would be more helpful.'” However, the Iran conflict offers additional benefits for Moscow. Economic ones, in particular.

The recent surge in global oil prices has significantly bolstered Russia’s government revenues. Crude oil prices have climbed dramatically to nearly $120 a barrel, surpassing the $59 benchmark that underpins the Russian federal budget. While prices have since retreated, they remain above the $59 threshold. Trump has hinted at waiving oil-related sanctions “on some countries” to ease shortages caused by the Iran war. If Russia is exempted, it could secure even greater financial gains. Ukraine’s President Volodymyr Zelensky called this move a “serious blow” for Kyiv, urging Trump to resist.

“Expensive oil is a reason [for the West] to cancel sanctions,” declared the headline of today’s pro-Kremlin Komsomolskaya Pravda. Meanwhile, some Russian newspapers have criticized Trump and the Iran war. “The ‘peace president’ has simply lost his mind,” asserted Tuesday’s Moskovsky Komsomolets. “The Emperor has no clothes. Or rather, no sanity.”