Kirill Dmitriev, head of the Russian Direct Investment Fund, noted that the recovery of global oil prices above $100 per barrel significantly strengthens Russia's position on the international stage. In his Telegram channel, he stated that in the context of rising raw material prices, "Russia is becoming a more prominent figure in the global economy and geopolitics." Dmitriev also believes that the current economic difficulties underscore Russia's importance as a key supplier, without which the stability of the global economy is at risk.
The significant price increase, reaching 20% per day in early March, is closely linked to the escalation of the situation in the Middle East. The main factor that caused the market shock was the effective cessation of shipping through the Strait of Hormuz, which is a vital transport artery through which about 20% of all global oil supplies pass. Traders are factoring in the risks associated with attacks on the region's energy infrastructure and the potential for a prolonged fuel shortage.
Against the backdrop of conflicts and mutual threats between Iran, Israel, and the United States, the price of Brent crude has already exceeded $111 per barrel. Experts warn that in the event of a protracted conflict that could affect the production capacities of neighboring countries such as Kuwait, the UAE, or Saudi Arabia, prices may continue to rise, creating conditions for a global energy crisis, as noted by international analysts.
