Middle East conflict consequences unpredictable even to participants, Putin says

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Today, no one can predict the consequences of the Middle East conflict, including those involved in it, Russian President Vladimir Putin said at the Russian Union of Industrialists and Entrepreneurs (RSPP) congress.

"The consequences of the conflict in the Middle East are still difficult to predict precisely. It seems to me that those involved in the conflict themselves cannot predict anything, and for us, it is even more complicated," he said.

In this regard, the head of state warned businesses against "consuming" the windfall profits associated with the conflict.

"We need to remain prudent. If markets tilt in one direction today, they may change in another direction tomorrow," the president cautioned.

• Earlier, Deputy Prime Minister Alexander Novak stated that due to the market deficit, Russian oil and petroleum products are currently traded with zero discount or even a premium.