As the war with Iran grinds on, a growing number of analysts argue one country stands to gain the most from the chaos: Russia.

Among the loudest voices is historian Timothy Snyder, who argues the conflict is strengthening the Kremlin financially and strategically — raising uncomfortable questions about why the war continues.

‘Making So Much Money for Putin’

Snyder’s blunt assessment has captured the mood among some critics.

“Hard for Trump to get out of a war that is making so much money for Putin,” he wrote online, pointing to the economic ripple effects unleashed by the conflict. Surging oil prices and shifting sanctions have opened a lucrative window for Moscow.

For the Kremlin, the war has arrived at a crucial moment.

Oil Shock Delivers Moscow a Lifeline

When fighting disrupted shipping through the Strait of Hormuz, global oil prices surged.

To stabilise markets, Washington eased restrictions on Russian energy exports — effectively giving Moscow fresh revenue streams. The boost comes as Vladimir Putin continues to finance Russia’s costly war in Ukraine.

For critics, the optics are stark: American military escalation helping refill the Kremlin’s war chest.

War Distracts the West

The conflict has also shifted Washington’s strategic focus.

As the United States deploys forces across the Persian Gulf, attention and military resources have drifted away from Ukraine. Analysts warn that diversion could weaken Kyiv’s position on the battlefield.

Every missile fired in the Gulf, critics say, is one less available to counter Russia’s advance.

Allies Fray, Moscow Steps In

Diplomatically, the war may also be reshaping global alliances.

Tensions between Washington and several partners have deepened as the conflict expands. Into that vacuum, Russia has sought to present itself as a stabilising counterweight — a familiar playbook in the Kremlin’s geopolitical strategy.

The longer the war drags on, the more leverage Moscow may gain.

Questions Swirl Around Trump’s Strategy

The debate also revives long-running controversy around Donald Trump and Russia.

Some analysts argue Trump’s decisions inadvertently serve Russian interests; others go further, suggesting a deeper alignment. Trump has repeatedly rejected such claims.

But as the war widens and oil profits surge in Moscow, critics say one conclusion is becoming harder to ignore: in this conflict, Russia may be the real winner.

Trump can’t end war because it’s 'making so much money for Putin': top historian

Maybe....