The war between Iran, Israel, and the United States extends beyond these three nations, posing wider implications for both the Middle East and the South Caucasus. These regions account for a critical share of global oil transportation in terms of both production and export. Amid growing instability in the Middle East, particularly the disruption of shipping through the Strait of Hormuz, global energy markets are increasingly looking for alternative sources and supply routes. As a result, attention has shifted toward the South Caucasus and Central Asia. This raises an important question: can these regions benefit economically from the ongoing conflict?