Russia’s presidential envoy for international investment and economic cooperation, Kirill Dmitriev, has warned that escalating geopolitical tensions could send global oil prices to record levels, cautioning that the world may be heading toward a major energy crisis.

Dmitriev said the ongoing conflict in the Middle East and the growing risk of disruptions to global energy supplies are increasing pressure on oil markets. Following Brent crude’s climb above $100 per barrel, he said the global “energy tsunami” is accelerating as uncertainty over supply continues to mount.

The Russian official has repeatedly argued that prolonged instability in the region could trigger one of the most severe energy crises in modern history, with sharp increases in oil prices affecting economies worldwide.

His warning comes as investors closely monitor developments in the Middle East, particularly around key oil-producing regions and major shipping routes that are critical to global crude exports.

While Dmitriev’s remarks reflect his assessment of potential market risks rather than a confirmed forecast, they underscore growing concerns that further escalation in the conflict could tighten global oil supplies and fuel another surge in energy prices.