Asia: The phenomenon of "all roads lead to Moscow" has become a major focus of attention, particularly among countries in the Asia-Pacific region expressing concern over the unstable oil price situation. Amidst this crisis, Russian leader Vladimir Putin has become extremely sought after as the world's largest holder of energy resources. Assoc. Prof. Dr. Sompop Manarangsarn observes that...

According to Thai News Agency, a major concern for the Asia-Pacific region is the disproportionate level of oil production to demand. Despite having the largest population in the world, Asia produces only 8.9-9% of global oil (approximately 9.4 million barrels per day), compared to 29.9% in North America and 29.1% in the Middle East. Past experiences of sharply rising oil prices during various crises have forced highly import-dependent Asian countries to urgently seek stable energy sources.

The reason why Russia is sought after is clear. Russia ranks as the world's second-largest oil producer, after the United States, with an output of approximately 9.8 million barrels per day. It boasts the greatest surplus capacity available for export. Last year, Russia exported an average of 4.8 million barrels of oil per day, with China and India being the largest customers. Now, other Asian countries such as Thailand, the Philippines, Japan, South Korea, Singapore, and Indonesia are also "queuing up" to reserve oil from Russia.

Russia previously sold its Ural crude oil at a significant discount, but following tensions in Iran, the price of Ural oil surged, allowing Russia to sell more oil at global market prices. This shift has generated enormous revenue from oil and oil products, estimated at no less than $160-170 billion.

This situation also involves global political maneuvering in the Strait of Hormuz, where Iran acts as a "gatekeeper," controlling shipping lanes. One interesting development is the push to trade oil in the yuan (Petro-Yuan) instead of the US dollar. The use of the yuan has become attractive for Gulf countries, as it provides immediate liquidity for trade with China, weakening the US dollar's influence in the global energy market.

While Russia benefits, soaring gasoline prices in the U.S. are becoming a major problem for Donald Trump, as Americans face higher living costs, which could impact his popularity in the midterm elections. The current situation demonstrates that Russia, under Putin's leadership, can leverage its energy resources as a powerful bargaining tool. Amidst soaring demand from Asia and a shifting global financial power dynamic, Russia has become a dominant player in the global economic and political game.