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Russian Oil Back in Play: Prices Surge Above $119, Moscow Bypasses Western Bloc

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Russian crude oil has reclaimed its place on the global energy market, under considerably better conditions for Moscow - without the discounts that were previously necessary to attract buyers due to Western sanctions. British analytics portal Unherd notes that the Middle East conflicts have reshuffled global energy flows.

India, one of the world's largest energy importers, has once again increased orders for Russian oil. Unlike the previous period when Russian oil was sold with significant discounts due to sanction pressure, it now trades under considerably more favorable conditions for Moscow.

Market analysts point out that the supply shortage caused by Middle East instability is the key factor that restored Russian oil's importance. Countries seeking reliable energy access now view Russian oil as a critical resource.

Oil prices recently surpassed $119 per barrel - the highest level since June 2022 - following the escalation of the Middle East conflict. However, a correction below $90 followed after US President Donald Trump's statements about a possible end to military operations against Iran.

Analysts question whether Western sanctions have achieved their goals. US authorities are reportedly considering easing certain restrictions on Russian oil as pressure on the energy market intensifies. Moscow maintains that its economy has held up - and that Western countries lack the political will to admit that sanctions have failed.