European Council President, Antonio Costa has asserted that Russia is the only country benefitting from the US-Israeli war on Iran, as global energy prices soar and attention from Moscow’s four-year conflict with Ukraine is diverted.
Now in its 11th day, the war has spread rapidly throughout the region as Iranian forces hit back at US and Israeli targets, as well as facilities in the Gulf.
It has also slowed oil and natural gas flows through the strategic Strait of Hormuz to a near standstill, pushing fuel prices upwards and threatening far-reaching impacts on a number of industries.
Speaking to European Union Ambassadors in Brussels, Costa said, “So far, there is only one winner in this war – Russia.”
“It gains new resources to finance its war against Ukraine as energy prices rise. 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 centre stage.”
Antonio Costa
Addressing the broader situation in the Middle East, Costa called for restraint and warned against further escalation, saying protecting civilians and ensuring nuclear safety are critical.
Costa also pointed to the global implications of the conflict, noting that disruptions such as the blockade of the Strait of Hormuz could have severe economic effects.
The US and Israeli attack on Iran triggered the biggest spike in oil prices on Monday since the turmoil following Russia’s invasion of Ukraine in 2022.
Costa’s comments came as the Kremlin said that all parties wanted to continue US-mediated Russia-Ukraine peace talks, but that no date or venue had been agreed yet for the next round.
Russia and Ukraine held three rounds of talks in Turkiye last year and have conducted several more US-mediated sessions in Abu Dhabi and Geneva this year.
However, they remain far apart on key issues, especially on Russia’s demand for Ukraine to cede control of the whole of its eastern Donetsk region.
Yesterday, Monday, March 9, 2026, US President Donald Trump and his Russian counterpart, Vladimir Putin, held their first phone call of the year, during which they discussed the wars in Iran and Ukraine.
The Kremlin said that the possibility of lifting US sanctions on Russian oil had not been discussed in any detail with Washington, but that US actions were aimed at stabilising global energy markets.
Following this call, Putin said that Russia, the world’s second-largest oil exporter and holder of the biggest natural gas reserves, was ready to work again with European customers if they wanted to return to long-term cooperation.
Before the Ukraine war, Europe was buying more than 40 percent of its gas from Russia. By 2025, combined sales of pipeline gas and LNG from Russia accounted for only 13 percent of total EU imports.
Also on Monday, Trump said that his administration would lift some sanctions on oil-producing countries to keep energy prices down – though he did not say which ones. Washington currently maintains sanctions on the oil sectors of Russia, Iran and Venezuela.
Costa Stresses Need For EU To Protect International Order
Moreover, Costa stressed the need for the EU to protect the international rules-based order, which he said was now being challenged by the United States, and for all parties in the Middle East to return to the negotiating table.
“Freedom and human rights cannot be achieved through bombs. Only international law upholds them. We must avoid further escalation. Such a path threatens the Middle East, Europe, and beyond.”
Antonio Costa
Costa said that the EU must actively work with the international community to uphold the principles enshrined in the UN Charter and international law. “It is in our interest to ensure that the world remains rules-based and cooperative,” he said, adding, “It is in our interest to avoid further world fragmentation.”
He warned that the emerging multipolar world requires multilateral solutions rather than spheres of influence where power politics replace international law.
“We know the new reality. A reality in which Russia violates peace, China disrupts trade, and the United States challenges the international rules-based order.”
Antonio Costa
Costa also acknowledged that the EU sometimes struggles to react quickly to crises but said that the bloc must learn from past experience.
“I recognize how challenging it can sometimes be to reach a timely united position. However, we should have learned valuable lessons, like the need to respond quickly to urgent situations, as we saw with Gaza.”
Antonio Costa
READ ALSO: New Minerals Royalty Regulation to Cause 1million Job Loss – Minority Warns
