The US and Russia have emerged as the biggest beneficiaries of the war in the Middle East, according to The New York Times. The US gained an additional $50 billion, while Russia earned $15 billion.
Qatar, Kuwait, and Iraq, heavily dependent on the Strait of Hormuz, suffered the most. The closure of the strait caused a sharp rise in global fuel prices.
The US increased its energy exports by 145 million barrels annually, boosting revenues. Russia saw a decline in oil exports but benefited from higher prices.
Saudi Arabia and the UAE partially offset losses through alternative pipelines. Iraq lost approximately $15 billion.
