With oil prices surging, Moscow looks like the main winner from the Iran war - Yet this is only part of the story: for @ecfr.eu I outline how higher oil prices won't bridge Russia's fiscal gap and why Hormuz's closure vindicate China's electrification and clean tech bets
ecfr.eu/article/why-...
Russia’s oil bonanza will hardly bridge its huge fiscal gap. China’s current pains are real, but its gains could last.
