Who wins and loses in the global energy crisis?

The global energy crisis, exacerbated by conflict in the Middle East as of March 12, 2026, is creating winners and losers worldwide. With strategic chokepoints like the Strait of Hormuz potentially closed, countries in Europe and Asia face increased supply risks and inflation. The conflict involving the US, Israel, and Iran threatens to disrupt established energy routes, making alternatives difficult to secure. Russia is positioned to benefit significantly from rising oil prices, bolstering its economy despite existing Western sanctions. The longer the conflict persists, the more drastically the global energy landscape is expected to change.