On the face of it, Russia has so much to lose. Iran has been a particularly useful “strategic partner” for the Kremlin, not only sharing a disdain for Western values and influence, but also supplying the Russian military with vast squadrons of Shahed aerial drones, enabling the relentless bombardment of Ukraine.

"The military standoff needs to stop in order to stabilize the situation," Deputy Foreign Minister Sergey Ryabko said.

Russia is watching Israel’s bombardment of Iran with mounting concern for the survival of a key ally, though the Kremlin recognizes it has few levers to influence the escalating conflict in the Middle East.

When Israel first started bombing Iran, many in Russia saw it as an opportunity, a means of drawing support and attention away from Ukraine.

Israel was exploiting its advantage, saying it had taken out dozens of surface-to-air missiles in western Iran and killed the intelligence chief of the Islamic Revoluti

Russia has maintained a delicate balancing act in the Middle East for decades, trying to navigate its warm relations with Israel even as it has developed strong economic and military ties with Iran.

Cyprus has acted as a transfer point for third-country evacuees following the Hamas-led attack on southern Israel on Oct. 7, 2023, attack. In April 2023, Cyprus also assisted in the repatriation of U.K. nationals from Sudan.

Rising tensions in the Middle East will accelerate natural gas negotiations between Russia and China, with a decision likely this year, the head of a think-tank that advises the Russian government on China told Reuters.

Oil options are now more bullish than after Russia’s invasion of Ukraine in 2022, showing a global market that’s on edge as Israel and Iran trade blows, and speculation mounts that the US may join the attack.

Iran is a strategic partner to Russia, but Moscow isn't rushing to Tehran's aid in the face of Israeli strikes.