Why Vladimir Putin may be the big winner in Trump's Iran war

President Vladimir Putin may have lost an ally, but the Iran war could prove a boon for Russia, whose economy depends on energy exports.

Oil prices are soaring, and America’s attention and its military resources have shifted decisively to the Middle East.

Russian President Vladimir Putin may have lost another Kremlin-friendly leader, but the Iran war could prove a long-term boon for his country, whose economy is dependent on energy exports.

“So far, there is only one winner in this war — Russia,” European Council President António Costa said Tuesday as he addressed ambassadors in Brussels on the conflict in the Middle East.

“It gains new resources to finance its war against Ukraine as energy prices rise,” Costa said. “It profits from the diversion of military capabilities that could otherwise have been sent to support Ukraine. And it benefits from reduced attention to the Ukrainian front as the conflict in the Middle East takes center stage.”

Add NBC News to GoogleNational average for gallon of gas hits $3.54 amid war in Iran02:19While oil prices have come down since hitting a high on Sunday not seen since Russia’s invasion of Ukraine, they remained high as shipping through the Strait of Hormuz, one of the world’s busiest oil shipping channels, which is bordered to the north by Iran and crucial to the global energy supply, stayed at a virtual halt.