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As the direct conflict between Israel and Iran stretches into its fourth day, members of the Russian establishment are coming to the realization that it could destroy the country’s closest ally in the Middle East — the second to fall in less than a year.

The escalating conflict between Israel and Iran has already led to a spike in oil prices, and experts say it could result in higher inflation for UK borrowers the longer it continues

The Israeli military claims its campaign has eliminated high-value targets, including nine senior scientists, and severely damaged Iran’s nuclear infrastructure. Iranian authorities confirmed damage to four critical buildings at the Isfahan uranium conversion facility,

Iran called on U.S. President Donald Trump on Monday to force Israel to cease fire as the only way to end the four-day-old aerial war, while Israeli Prime Minister Benjamin Netanyahu said his country was on the "path to victory".

Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine.

The ongoing Israel Iran war has unleashed not only a massive aerial assault with missiles and drones causing heavy destruction in both the countries but could potentially impact global economy including India with whom the two have trade relations.

The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies.