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Foreign Policy Live

Is Russia the Unintended Winner of Trump’s Iran War?

Foreign Policy Live

Foreign Policy

News, Politics, News Commentary

4.1622 Ratings

🗓️ 12 May 2026

⏱️ 39 minutes

🧾️ Download transcript

Summary

There’s little doubt that the conflict in Iran has hurt much of the world economy. But not Russia. Data suggests that the Kremlin has already made billions of dollars in additional oil revenue since the United States and Israel attacked Iran. But beyond just cash, how much will this change President Vladimir Putin’s broader strategy? And what does this mean for the fate of the war in Ukraine? Alexander Gabuev, the director of the Carnegie Russia Eurasia Center, joins FP Live to explain how Russia is navigating a moment of particular global flux. Plus, Ravi offers his read on U.S. President Donald Trump’s visit to Beijing. Christian Caryl: Vladimir Putin Is Much Weaker Than You Think Sean Wiswesser: Don’t Fall for Rumors of Putin’s Weakness Keith Johnson: Russia Is Making Bank on Trump’s Iran War Christian Caryl: How Ukraine Benefited From Trump’s Iran War Alexey Kovalev: Russia’s War Boom Masks an Economic Implosion Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This episode is brought to you by Expedia and Visit Scotland.

0:04.6

Start your story in Scotland.

0:06.9

Experience the pool of wide, untamed landscapes and fresh cuisine that feels rooted in place.

0:13.6

Discover castles steeped in legend.

0:16.6

And feel the genuine warmth from locals you meet in a place that will stay with you long after you leave.

0:23.2

Start planning your own Scottish holiday.

0:25.7

Today at expedia.co.uk slash visit Scotland.

0:31.4

Hi, I'm Ravi Agrawal, Foreign Policies Editor-in-Chief.

0:36.1

This is FP Live.

0:46.0

So there is little doubt that the conflict in Iran has hurt much of the world economy,

0:53.1

but not Russia. Data suggests the Kremlin has already made billions of dollars in additional oil revenue since the United States and

0:55.9

Israel attacked Iran. But beyond just cash, how much will this change Vladimir Putin's

1:02.0

broader strategy? And what about the war in Ukraine? In a moment, I will speak with a top

1:08.0

Russia expert. But first, one of the other big stories this week,

1:13.0

President Donald Trump's visit to Beijing. Here's my read on things. The world's two most

1:19.6

powerful leaders were actually supposed to meet last month. It was delayed because of the

1:24.0

conflict in Iran. But even though Trump is very eager to generate headlines that are not about the Middle

1:30.6

East, Iran will cast a shadow over his trip this week.

1:35.1

The White House is reportedly planning to ask China to help broker an agreement to end the

1:41.0

conflict in Iran.

1:42.9

Xi Jinping might want such an outcome, too.

1:45.9

Beijing wants the global economy back on track,

...

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