Russia gains $6 billion from Iran war, says US Senator

Washington, March 12 (IANS) Russia has emerged as an unexpected economic beneficiary of the war involving Iran, earning billions of dollars from rising global oil prices triggered by the conflict, a US Senator said during a Senate Armed Services Committee hearing on Thursday.

Senator Angus King of Maine told military commanders that surging energy prices since the start of the war had delivered a windfall to Moscow.

"There is a clear winner in this war," King said, adding: "The clear winner is Vladimir Putin and Russia."

He said estimates released hours before the hearing suggested that Russia had already earned about $6 billion in additional revenue since the conflict began.

"Russia has reaped $6 billion of benefit from this war since it began just two weeks ago," King added.

According to King, the spike in global oil prices following the conflict has generated nearly $400 million a day in additional revenue for Russia.

"It's about $400 million a day from the increase in oil prices," he said.

The comments came as Senators questioned senior Pentagon officials about the broader geopolitical consequences of the conflict in the Middle East, including disruptions to global energy markets and maritime trade routes.

General Randall Reed, Commander of US Transportation Command, acknowledged that instability around the Persian Gulf and shipping routes has become a major concern for military planners and commercial carriers alike.

During the hearing, lawmakers noted that global energy flows remain heavily dependent on the Strait of Hormuz, one of the world's most strategic maritime chokepoints.

Nearly one-fifth of global petroleum supplies pass through the narrow waterway each year, making it a critical artery for global energy markets.

Military officials said the conflict has heightened concerns about maritime security and supply chains.

US Transportation Command works closely with commercial shipping companies to maintain supply lines during military operations, Reed said.

"In the case of sealift, once the ready reserve force makes the initial surge, commercial really plays in for sustainment and greater than 90 per cent of all the sustainment is done by the commercial fleet," he added.

Lawmakers also raised concerns about whether adversaries could exploit vulnerabilities in commercial infrastructure used to support military logistics.

Reed said the Pentagon works with private sector partners to improve cybersecurity protections.

The discussion highlighted how regional conflicts can have far-reaching global economic consequences beyond the battlefield.

--IANS

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