Kremlin Says Middle East War Devastates Global Economy

(MENAFN) Russia warned Sunday that ongoing U.S.-Israeli military operations in the Middle East are inflicting severe and lasting damage on the global economy, as Moscow signaled growing skepticism toward a Trump-backed international peace body.

Kremlin spokesman Dmitry Peskov, speaking to a Russian state news agency, delivered a stark assessment of the conflict's economic fallout: "We are now seeing extremely devastating consequences of this war for the global economy and for regional geopolitics."

He added: "These consequences will probably not be short-term; they will have a long-term effect."

Peskov further indicated that Moscow has yet to determine whether it will join the Board of Peace — a multilateral body launched by U.S. President Donald Trump — noting that "the concept appears less relevant than before against the backdrop of US aggression in the Middle East."

The Board of Peace was formally constituted in January when 19 nations endorsed its founding charter at the World Economic Forum in Davos. Originally conceived to oversee governance of the Gaza Strip under the framework of Israel-Hamas ceasefire arrangements, Washington has since pushed aggressively to expand the body's mandate to address and prevent conflicts across other regions.

On a separate diplomatic front, Peskov characterized a recent visit by Russian legislators to the United States as productive, expressing hope that such exchanges would deepen. "Of course, this trip is very useful," he said. "We hope that these contacts will be followed by new ones, perhaps more substantive," he said.

The delegation — comprising five Russian parliamentary deputies — traveled to Washington at the invitation of U.S. Congresswoman Anna Paulina Luna. Their meetings drew participation from both Republican and Democratic representatives, with discussions spanning bilateral issues, the war in Ukraine, the Middle East crisis, and the broader trajectory of Russian-American relations.

Peskov signaled cautious optimism about the diplomatic value of the exchange, stating: "In any case, this will make a great contribution to revitalizing the entire range of bilateral relations. If the American side is ready and agrees to this."

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