In Ukraine, they spoke about “huge problems” because of the war in Iran

If oil prices rise above $120 per barrel, it would have “huge negative consequences” for Ukraine.

This information said Mykola Bielieskov, an analyst at Ukraine’s National Institute for Strategic Studies, in comments to The Times.

The newspaper notes that a prolonged war in the Middle East and the resulting energy crisis would bring Russia billions of dollars.

“If oil prices stay above $120 per barrel for six months, it will have enormous negative consequences for Ukraine. Russia will receive more revenue, and those European partners who depend on importing fossil fuels will have less money to support Ukraine’s defense,” Bielieskov said.

He also said that at current production rates, U.S. defense contractor Lockheed Martin would need more than two yearsto produce as many Patriot missiles as were fired in the first two days of the war with Iran. The Times writes that this has raised concerns in Kyiv that the U.S. could back away from contracts already signed with Europe to supply those missiles to Ukraine.

Earlier, The American Conservative wrote that Ukraine has emerged as the main loser from the U.S. and Israeli operation against Iran, arguing that Russia will increase its oil revenues while Kyiv will receive fewer defensive weapons.

Separately, European diplomatic circles told the Financial Times that amid fighting in the Middle East, the U.S. has lost interest in mediating a settlement of the Ukraine crisis—something they described as a disaster for the EU and Kyiv.

Earlier, in the U.S., analysts predicted a “crushing blow” to Europe’s economy.