It is no surprise to anyone that Russia and Iran are tied economically to the daily price of crude. As a result, the value of the their currency can take huge swings. Thomas Friedman takes a big swing at what he thinks could be the drop of gas but he has it all wrong. in Similar to what has happened to the US$ in the past. However, the idea that the current administration would be knowing conducting an economic policy against Iran or Russia would be a bit of a reach. The current value of crude and gasoline is a result of a summer of relative lulls and an increase in supply. No major disruptions interfered with the pumping and refining processes in the Gulf this year. A relatively cool summer and late frost in the major of the US has also pushed back the surge in winter oil reserves. Supplies are up and demand has cooled in the Western Hemisphere.
Additionally , this administration has been mostly flaccid in its responses to global threats and aggressors. Speak, threaten, repeat. Just swap out adjectives and proper nouns for each crisis press conference. The larger regional war between Ukraine and Russia never really materialized during the summer and now that Russia is withdrawing troops further stressors on the market are dissolving. Of course the real loser in all of this is Finland, who’s credit rating was assessed downwards again. A lack of Russian trade in the Finnish markets has all but crushed their trade balances. A weakened Ruble will lead to further problems once the trade restrictions imposed by other Western nations are lifted.