The phone call between Trump and Putin once again brought the Russian leader into the spotlight regarding the Iran issue: Putin “offered” to help Europe and contribute to the de-escalation of the war in Iran. Putin also received a big “gift” from the US: oil prices have almost doubled his expectations. However, the balance remains fragile for Moscow.
“Elchi” reports that the phone call between Donald Trump and Vladimir Putin gave the Kremlin leader a new role in the Iran issue. Gaining an advantage such as the unexpected rise in oil and gas prices due to the blockade of the Strait of Hormuz, Putin is trying to maximize this situation. A day after his meeting with Trump, Kremlin spokesman Dmitry Peskov announced that the Russian president had put forward several mediation proposals for the conflict in Iran, and that these were “still on the table.” Trump also commented on this after the phone call, saying: “Putin wants to help de-escalate tensions,” but added that “it would be even more useful if he contributed to ending the war in Ukraine.” This dialogue confirms Putin’s efforts to re-present himself as a reliable and necessary partner in the Middle East. Nevertheless, Russia has largely had to helplessly watch the military defeats of its two close allies, first in Syria, and now in Iran. Before meeting with Trump, Putin met with the heads of Russian energy companies and reminded them of Russia’s warnings that any destabilizing step in the region could lead to devastating consequences for the global economy. Indeed, exactly such a scenario occurred.
Putin stated that “oil flow from the Strait of Hormuz could completely stop within the next month.” He then made another political maneuver towards Europe. The Russian leader, who a few days earlier had threatened to completely halt gas supplies to Europe, said that they could work together again if governments were ready to return to “sustainable and stable cooperation, free from political calculations.”
Putin also stated that he would continue energy supplies to European countries he considered reliable.
Before the invasion of Ukraine, Europe received more than 40% of its natural gas from Russia. This ratio dropped to 13% by 2025.
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