Tag: global commodities

Russia Gains Billions From Hormuz Crisis

The merchant vessel Seaway Hawk sails from Bahrain in the Persian Gulf/Arabian Gulf while transporting decommissioned U.S. Navy Avenger-class Mine Countermeasures Ships, USS Devastator, USS Dextrous, USS Gladiator and USS Sentry on January 20, 2026 in the U.S. CENTCOM area of responsibility | Photo: U.S. Navy/Mass Communication Specialist 2nd Class Iain Page

Russia is earning billions as the Hormuz blockade pushes up global oil and gas prices, a German trade body says. Higher prices boost Moscow’s revenues while raising costs for Europe’s economy.