How Iran war could reshape the state of play in Russia's war on Ukraine
France 24
by FRANCE 24March 4, 2026
The rapidly expanding war in Iran is creating ripple effects beyond the Middle East, rattling global energy markets and reshaping the economics of Russia’s war in Ukraine. Iran's retaliatory strikes across the Gulf have driven oil prices up, potentially boosting Moscow’s revenues just as sanctions and Ukrainian strikes had begun to weaken Russia's campaign. With energy exports funding the Kremlin’s invasion, a prolonged crisis could strengthen Russia’s war chest.
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Originally published on France 24 on 3/4/2026