Russia predicted economic benefits due to Israel’s conflict with Hamas
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Geopolitical analyst and junior researcher at the Royal United Services Institute (RUSI) think tank Samuel Ramani said that if the war between Israel and the radical group Hamas drags on, Russia will be able to benefit economically from rising oil prices. Ramani’s words are quoted by CNBC.
According to the expert, with the current development of events, Moscow will be able to increase its own reserves to finance the growing defense spending of the federal budget by increasing cash receipts from oil exporters. As Ramani noted, higher oil prices are a beneficial addition to the Russian economy and could help finance a massive expansion of the country’s defense budget planned for next year.
At the same time, the analyst pointed out that if the war escalates and Lebanon, Syria and Iraq are involved in the conflict, the Russian Federation’s position in the Middle East could worsen. Ramani added that if the conflict gets out of control, it could lead to “catastrophic consequences” for Moscow’s influence in the region.
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