Western sanctions imposed on Russia for its invasion of Ukraine have caused global oil prices to spike as high as $130 per barrel recently, driving U.S. gasoline prices above $4 per gallon. U.S. officials agree that energy sanctions are necessary to compel Russian President Vladimir Putin to end military operations in Ukraine| The Soufan Center
A year of dialogue between Iran and Saudi Arabia, and a spring-summer ceasefire in Yemen, raised hopes in the international community that a repeat of past cycles of Iran-related violence in the Persian Gulf region could be avoided| The Soufan Center