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Is Russian oil benefiting from the war in Iran?

The Circumpolar – Arctic Geopolitics (podcast), May 15, 2026.

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‘In the short term, Russia has benefited from higher prices and partial sanctions relief, but the longer-term picture is far more uncertain,’ says Arild Moe. He explains how war, sanctions, weaker foreign investment and a changing LNG market are putting structural pressure on Russian Arctic energy.

Related FNI People

Arild Moe
Research Professor

Related FNI Project(s)

Project name	Status
Norwegian Centre on Geopolitics (GEOPOL)	Ongoing
Unpacking Arctic Security Dynamics: A 3D approach to geopolitics in the Barents and Bering Seas	Ongoing