'Our interest is ending conflict': Putin rejects claims Russia is cashing in on Iran war oil surge

Russian President Vladimir Putin (Image/AP)

Russian President Vladimir Putin on Thursday said Russia wants the conflict in Middle East to end as soon as possible, dismissing suggestions that Moscow benefits from rising energy prices triggered by tensions involving Iran and disruptions to key global shipping routes.Speaking to reporters at the annual St Petersburg International Economic Forum, Putin said the Iranian people had demonstrated unity and resilience during the ongoing crisis and stressed that their interests must be taken into account in any future settlement."There is no doubt that the people of Iran have proven that their interests should be taken into account. They have shown cohesion and their will to fight.

We maintain contacts with our Iranian friends and we hope that this will end up in a positive result," he said.

The Russian president added that Moscow remained ready to assist if required and would welcome any outcome that helps bring the conflict to an end."If there is anything that Russia could do, we are always ready to provide assistance. If not, we would only welcome the end of the conflict along with everyone," Putin said.

Addressing speculation that Russia could benefit from higher oil and gas prices caused by instability in the region, Putin rejected the claim and argued that any gains for Russian energy companies would be temporary."These are mere speculations, saying that Russia is presumably the only stakeholder and beneficiary from the rising prices of energy resources. To a certain extent, our companies do benefit from that, but this is only temporary and short-lived," he said.Putin stressed that Russia's priority was long-term stability rather than short-term gains from energy markets."We are seeking long-term, stable relations with everyone based on mutual interests, and in this case, our interest is ending the conflict as soon as possible," he said.Welcoming recent diplomatic efforts, Putin also pointed to the importance of maintaining the ceasefire and preventing further escalation across the region."We welcome the fact that, despite certain difficulties, a ceasefire has been established," he added.

Putin on India-Russia ties

During the interaction, Putin also praised Russia's relationship with India and described New Delhi as one of Moscow's most reliable partners."We are developing our ties with India and will continue doing that, and we deem India to be a very reliable partner," he said.The Russian president said Western attempts to pressure India over its ties with Russia were unlikely to succeed."Everyone has understood that putting pressure on Prime Minister Narendra Modi and India, which has the largest population in the world, is detrimental for international relations and for bilateral relations. It doesn't matter where this pressure comes from. We don't see any negative consequences," Putin said.

'Special privileged strategic partnership'

Highlighting the long history of cooperation between the two countries, Putin described India and Russia's relationship as a "special privileged strategic partnership"."We enjoy a special privileged strategic partnership. This is something we have been working on for decades," he said, while recalling the long-standing diplomatic ties between the two nations.Putin also praised India's economic growth under Prime Minister Narendra Modi and said the country's rise was the result of sustained policy efforts."India is one of the leading economies of the world that shows the highest rates of economic growth.

This is a result of the hard work that the government has been doing under the leadership of Prime Minister Modi," he said.The Russian president further expressed confidence that trade between India and Russia would continue to expand and could reach $100 billion in the coming years.His remarks came amid continuing tensions in West Asia, concerns over global energy supplies and growing scrutiny from some Western countries over India's economic and energy engagement with Russia.