weakened” by Israeli military offensives, while “Russia has been bogged down in Ukraine and unrest in Georgia.” In an update on his Truth Social platform, U.S. President-elect Donald Trump suggested Assad’s “protector, Russia, Russia, Russia, led by Vladimir Putin, was not interested in protecting him any longer. There was no reason for Russia to be there in the first place. They lost all interest in Syria because of Ukraine.” Markets have been watching the military developments for signs of an impact on supplies in the oil-rich Middle East, as well as further trade disruptions along critical trade routes.