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Al Jazeera

Politics

Michael Moran

Russia-Ukraine crisis: When oil prices climb, Putin gets bolder

Russia United States Ukraine Moscow Europe Thomas Graham

Russian President Vladimir Putin's government is in a stronger position economically than it has been with previous standoffs with the West [File: Sputnik/Alexei Druzhinin/Kremlin via Reuters]

Amid the historic tensions between Russia and Ukraine and the grand geopolitical dynamics currently unfolding between Moscow and the West, the role that crude oil plays in greasing the wheels of conflict can become obscured.

But a look back at past conflicts reveals a strong correlation between soaring oil prices and Moscow’s willingness to assert its will aggressively beyond its borders.

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