Ukrainian makeup artist Tetiana Kurakova, 40, sits in a hotel in Tel Aviv, Israel, June 17, 2025, that was turned into a shelter for evacuees from Bat Yam, which was hit by an Iranian strike. (AP Photo/Leo Correa)

As the confrontation between Iran and Israel deepens, could Russia could reap the benefits of rising oil prices - or have the chance to act as a mediator? And what consequences could this crisis have for Ukraine?

As yet another one of his key allies in the region faces an existential crisis, Vladimir Putin is presented with a major opportunity — and many challenges.