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Fortune

World

Marco Quiroz-Gutierrez

Putin is the real winner in Trump’s Iran war as it puts Russian oil back on the map

Oil Russia United States Iran Vladimir Putin Scott Bessent Usha Haley Kirill Dmitriev

(Credit: Contributor—Getty Images Europe)

The war in Iran is spiking global oil prices, and Russian President Vladimir Putin couldn’t be happier.

The war has bottled up one-fifth of the world’s oil, putting a premium on the remaining supply, including Russian barrels.

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