War in Iran Temporarily Boosts Putin's Russia

Watching Vladimir Putin's military operation in Ukraine, the consolidation of his political power domestically, the development of closer ties with Beijing and Washington, and his constant propaganda, one might assume the Russian president has strong momentum. This feeling is not confirmed by a series of setbacks on the battlefield and by the domestic economic trend that is almost certain to worsen in the coming years. In fact, Putin's greatest advantage today is the war in Iran, which is sending energy prices soaring worldwide — creating an unexpected — and much-needed — economic benefit for Russia. The conflict in the Middle East also diverts attention from Ukraine and creates a rift between the US and its European allies.