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Iran War Disrupts Oil Flow, EU Warns Russia Benefits

3/11/2026

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Story summary
  • The war in Iran disrupted global oil flows, causing price spikes.
  • European leaders, including António Costa, warn that Russia may benefit from the disruption.
  • The European Union urges the United States to enforce the G7 price cap on Russian oil.
  • EU countries are taking measures to prevent price gouging, with France inspecting petrol stations, Italy threatening taxes on profiteering firms, and Germany maintaining sanctions on Russia.