New Delhi, March 13 -- Russia and China are emerging as key economic beneficiaries from the ongoing conflict in West Asia, according to a report by Jefferies, which highlighted how rising geopolitical tensions are reshaping global energy and financial dynamics.

The report noted that the surge in global oil prices following the escalation in tensions has strengthened Russia's position in the global energy market. With oil prices rising sharply, Russia stands to gain from increased energy revenues.

At the same time, China is benefiting from relatively stable domestic markets, which allow it to strengthen its financial system while other economies face uncertainty and volatility.

Jefferies stated that the geopolitical situation has also e...