[size=34]About-Face! Saudi Arabia and Russia Ink Six New Deals, Embark on New 'Petroleum Alliance'
Under the leadership of a new king, Saudi Arabia is reversing course on its Russia policy from 2014[/size]
RI Staff
2 hours ago | 842 7
Donate!
In Riyadh, there’s a new king in town; and he is a very different man than his brother was before him. After shaking up the government and replacing the heads of Saudi Arabia’s two biggest corporate behemoths (SABIC & Saudi Aramco), his new majesty seems to have the right people in place to carry out what seems to be an entirely new set of policies.
Case in point was this past Thursday’s meeting in St. Petersburg where President Putin received the Deputy Crown Prince and Saudi Defense Minister Muhammad bin Salman (a son of the current King Salman), along with Foreign Minister Adel al-Jubeir and the all-powerful Oil Minister Ali al-Naimi. The two sides signed a total of six new cooperation agreements that included the nuclear and military spheres.
The delegations also took the opportunity to address ways to improve bilateral relations, particularly in the fields of technical cooperation, housing, oil and gas, and investment opportunities.
From the Saudi delegation, the real power in the room was of course the vaunted Oil Minister Ali al-Naimi, who sounded quite confident about a rise in the price of oil in the near future. Naimi was quoted as saying, “I am optimistic about the future of the market in the coming months in terms of the continuing improvement and increasing global demand for oil as well as the low level of commercial inventories.” This, the minister said, “is expected to improve the level of prices.”
Naimi went on to praise the enhanced bilateral cooperation between Riyadh and Moscow, stating that, “This, in turn, will lead to creating a petroleum alliance between the two countries for the benefit of the international oil market as well as producing countries and stabilizing and improving the market.”
A ‘petroleum alliance’ between Saudi Arabia and Russia to stabilize the global oil market? It sounds unlikely, particularly with all the talk about the U.S. and Saudi Arabia secretly agreeing to collapse Russia’s economy by crashing the price of oil in 2014, not to mention how the two countries diametrically oppose one another on issues such as Syria, Iran, and Yemen.
But again, Saudi Arabia is under new leadership and is not the same country it was a year ago. The delegation sent to Russia this past week was of the absolute highest level, and the fact that the statement was given directly by Mr. Naimi, as opposed to some all-too-common ‘senior official’ or ‘unnamed source’, speaks volumes.
Naimi - the redoubtable 80-year-old boss of Arabian black gold - is a living legend in the Kingdom (he started his career with Saudi Aramco at the age of 11), and wields more power there than anyone who isn’t the king. Statements from him on Saudi energy policy are not thoughts or opinions. Rather, they are facts and policies; and they would never be stated without the explicit approval and authority of the king. Put simply, Mr. Naimi just declared a new direction in Saudi Arabian foreign policy.
This is just the beginning of a new chapter in Saudi-Russian relations. During his meeting with President Putin, Prince Muhammad publicy announced that his father had offically invited the Russian president to the Kingdom, stating, “I have the honor to pass on an invitation to visit the Kingdom of Saudi Arabia, as we regard Russia as one of the important states in the contemporary world, and our relations have roots in the past.”
Mr. Putin accepted the king’s invitation to visit the Gulf state and in turn announced that he had invited the king to Moscow, which the deputy crown prince confirmed had been accepted. These meetings - if and when they take place - will be events to be followed very closely.
http://russia-insider.com/en/politics/about-face-saudi-arabia-and-russia-ink-six-new-deals-embark-new-petroleum-alliance-progress
Under the leadership of a new king, Saudi Arabia is reversing course on its Russia policy from 2014[/size]
RI Staff
2 hours ago | 842 7
Donate!
In Riyadh, there’s a new king in town; and he is a very different man than his brother was before him. After shaking up the government and replacing the heads of Saudi Arabia’s two biggest corporate behemoths (SABIC & Saudi Aramco), his new majesty seems to have the right people in place to carry out what seems to be an entirely new set of policies.
Case in point was this past Thursday’s meeting in St. Petersburg where President Putin received the Deputy Crown Prince and Saudi Defense Minister Muhammad bin Salman (a son of the current King Salman), along with Foreign Minister Adel al-Jubeir and the all-powerful Oil Minister Ali al-Naimi. The two sides signed a total of six new cooperation agreements that included the nuclear and military spheres.
The delegations also took the opportunity to address ways to improve bilateral relations, particularly in the fields of technical cooperation, housing, oil and gas, and investment opportunities.
From the Saudi delegation, the real power in the room was of course the vaunted Oil Minister Ali al-Naimi, who sounded quite confident about a rise in the price of oil in the near future. Naimi was quoted as saying, “I am optimistic about the future of the market in the coming months in terms of the continuing improvement and increasing global demand for oil as well as the low level of commercial inventories.” This, the minister said, “is expected to improve the level of prices.”
Naimi went on to praise the enhanced bilateral cooperation between Riyadh and Moscow, stating that, “This, in turn, will lead to creating a petroleum alliance between the two countries for the benefit of the international oil market as well as producing countries and stabilizing and improving the market.”
A ‘petroleum alliance’ between Saudi Arabia and Russia to stabilize the global oil market? It sounds unlikely, particularly with all the talk about the U.S. and Saudi Arabia secretly agreeing to collapse Russia’s economy by crashing the price of oil in 2014, not to mention how the two countries diametrically oppose one another on issues such as Syria, Iran, and Yemen.
But again, Saudi Arabia is under new leadership and is not the same country it was a year ago. The delegation sent to Russia this past week was of the absolute highest level, and the fact that the statement was given directly by Mr. Naimi, as opposed to some all-too-common ‘senior official’ or ‘unnamed source’, speaks volumes.
Naimi - the redoubtable 80-year-old boss of Arabian black gold - is a living legend in the Kingdom (he started his career with Saudi Aramco at the age of 11), and wields more power there than anyone who isn’t the king. Statements from him on Saudi energy policy are not thoughts or opinions. Rather, they are facts and policies; and they would never be stated without the explicit approval and authority of the king. Put simply, Mr. Naimi just declared a new direction in Saudi Arabian foreign policy.
This is just the beginning of a new chapter in Saudi-Russian relations. During his meeting with President Putin, Prince Muhammad publicy announced that his father had offically invited the Russian president to the Kingdom, stating, “I have the honor to pass on an invitation to visit the Kingdom of Saudi Arabia, as we regard Russia as one of the important states in the contemporary world, and our relations have roots in the past.”
Mr. Putin accepted the king’s invitation to visit the Gulf state and in turn announced that he had invited the king to Moscow, which the deputy crown prince confirmed had been accepted. These meetings - if and when they take place - will be events to be followed very closely.
http://russia-insider.com/en/politics/about-face-saudi-arabia-and-russia-ink-six-new-deals-embark-new-petroleum-alliance-progress
Today at 12:29 pm by Rocky
» Protecting banks and protecting Iraqi sovereignty!?
Today at 12:23 pm by Rocky
» Al-Sudani meets the Emir of Kuwait
Today at 12:17 pm by Rocky
» Parliament votes on three draft laws and adjourns its session
Today at 12:13 pm by Rocky
» Political praise for Sudanese: The agreements he signed are real
Today at 12:08 pm by Rocky
» Economist: The bombing of oil fields is a conspiracy against Iraq to intimidate foreign companies
Today at 12:07 pm by Rocky
» The price of the dollar is close to 145 thousand dinars؛ how much is $100 worth of transactions؟
Today at 11:45 am by wciappetta
» To address the dollar exchange rate... Mazhar Muhammad explains the risks of floating the Iraqi dina
Today at 9:01 am by Proven
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
Today at 7:46 am by Rocky
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
Today at 7:45 am by Rocky
» Al-Sudani: The water situation in Iraq is not in the best condition.. Aboul Gheit extends an invitat
Today at 7:34 am by Rocky
» The Sudanese advisor explains... Has the 2024 budget entered into force?
Today at 7:23 am by Rocky
» The Iraqi Central Bank announces the strengthening of banks’ external accounts by $260 million
Today at 7:21 am by Rocky
» Economist: The path of development is the first gateway to sustainable economic advancement in Iraq
Today at 7:20 am by Rocky
» The green economy and diversity... major projects and challenges that will reap their fruits later -
Today at 7:16 am by Rocky
» Behind the scenes of the state administration meeting: The regional government supports Sudanese wit
Today at 7:14 am by Rocky
» The Real Estate Registry begins activating the electronic restrictions management system program
Today at 7:11 am by Rocky
» Al-Sudani confirms from Riyadh the possibility of cooperation with the German technology company (SA
Today at 7:08 am by Rocky
» On top of which is the path of development.. Al-Awadi announces the most prominent files that the Pr
Today at 6:54 am by Rocky
» The President of the Republic receives the President of the International Labor Organization
Today at 6:49 am by Rocky
» Parliamentary Finance: This week will witness funding the salaries of employees in the Kurdistan Reg
Today at 6:48 am by Rocky
» On an experimental basis... Justice announces the start of activating the electronic barriers manage
Today at 6:46 am by Rocky
» Obelisk Hour: The economic provisions in the strategic framework agreement need to be activated
Today at 6:44 am by Rocky
» Before self-sufficiency... 80 percent of citizens' need for gasoline will be met soon
Today at 6:41 am by Rocky
» A deputy reveals the features of the "five-year plan" to revive Iraqi agriculture
Today at 6:39 am by Rocky
» Deputy: We opened the Council of Ministers to decide the salary scale
Today at 6:38 am by Rocky
» Iraq doubles its investments in modern irrigation engineering by no less than 20%
Today at 6:36 am by Rocky
» Confirming to Shafaq News... The Sudanese arrives in Saudi Arabia to participate in the World Econom
Today at 6:31 am by Rocky
» Al-Sudani announces that clues have been found leading to those involved in the Kormor bombing
Today at 6:29 am by Rocky
» Special: Deconstructing the mystery of the repeated targeting of the Kormor field
Today at 6:28 am by Rocky
» Increase in foreign remittance sales at the Central Bank of Iraq
Today at 6:27 am by Rocky
» Al-Maliki: The salaries of the region’s employees are continuing, and there will be solutions to del
Today at 6:26 am by Rocky
» Minister of Resources: Iraq is one of the countries most affected by climate change
Today at 5:29 am by Rocky
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
Today at 5:27 am by Rocky
» An Arab call to the countries neighboring Iraq regarding the share of water
Today at 5:26 am by Rocky
» IMF: Poor productivity is responsible for 50% of the decline in economic growth
Today at 5:20 am by Rocky
» The President of the Republic stresses to Barzani the importance of focusing on construction, recons
Today at 5:19 am by Rocky
» Will Iran lose the Iraqi market? 20 million dollars is threatened with loss
Today at 5:18 am by Rocky
» Parliamentary Economy: Parliament will extend the legislative term to approve the budget
Today at 5:13 am by Rocky
» A factory for producing electric cars
Today at 5:12 am by Rocky
» Prime Minister: We have launched strategies to improve the conditions of workers
Today at 5:10 am by Rocky
» Economic prospects from America to Türkiye
Today at 5:09 am by Rocky
» Al-Rayes: The path of development is the first gateway to sustainable economic advancement
Today at 5:08 am by Rocky
» Days after announcing the connection with Jordan, an almost complete absence of electricity in Ramad
Today at 5:06 am by Rocky
» A Kurdistan delegation meets with the Ministry of Finance in Baghdad to discuss “revenues and implem
Today at 5:05 am by Rocky
» Parliamentary Economy reviews files and the importance of Sudanese’s upcoming visit to Saudi Arabia
Today at 4:59 am by Rocky
» Al-Maliki talks about postponing the Kurdistan Parliament elections and says that salary transfers w
Today at 4:54 am by Rocky
» The President of the Republic and Barzani discuss the results of Sudanese’s visit to the United Stat
Today at 4:53 am by Rocky
» The Ministry of Finance is "dizzy"... An expert points out a "lapse" in the budget schedules: Februa
Today at 4:49 am by Rocky
» Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedul
Today at 4:43 am by Rocky
» The Iraqi dinar is recovering against the US dollar in local markets
Today at 4:42 am by Rocky
» Iraq.. The claim that OPEC’s decisions affect oil derivatives only and not crude is “inaccurate”
Today at 4:39 am by Rocky
» Al-Bawi: Erdogan failed in his promises to his people and seeks to plunge Iraq into its conflict wit
Today at 4:37 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Today at 4:36 am by Rocky
» Amnesty International criticizes Iraq's implementation of 13 death sentences
Today at 4:34 am by Rocky
» The ambassador is very angry with Parliament: The homosexuality law obstructs the government and har
Today at 4:33 am by Rocky
» Al-Mandalawi: There is no place for homosexuality in the Iraq of the prophets and saints, and that i
Today at 4:32 am by Rocky
» Al-Sudani receives the President of the University: Towards the strength and status of the Arab syst
Today at 4:31 am by Rocky
» Ayed Al-Hilali: All leaders are discussing “the finer details of Sudanese” tonight, and Barzani join
Today at 4:30 am by Rocky
» He announced the reception of offers from three alliances from international companies for the Baghd
Today at 4:28 am by Rocky
» During his meeting with the head of the Iraqi Journalists Syndicate... Al-Amiri stresses the importa
Today at 4:26 am by Rocky
» During the launch of the Arab Labor Conference in its 50th session in Baghdad... Al-Sudani: We launc
Today at 4:24 am by Rocky
» Saudi Arabia announces an increase in direct flights with Iraq
Today at 4:23 am by Rocky
» Resources: Government measures have contributed to improving the water situation in Iraq
Today at 4:22 am by Rocky
» Al-Sadr: The voice of American universities calling for an end to Zionist terrorism is our voice
Today at 4:21 am by Rocky
» International organization: 50% of displaced Iraqis lack official documents
Today at 4:20 am by Rocky
» Al-Sudani: The path of development will provide many job opportunities
Today at 4:19 am by Rocky
» Parliament Finance: The necessity of converting tax and customs revenues to digital processing
Today at 4:18 am by Rocky
» Al-Sudani announces that clues have been found to uncover those involved in the Kormor bombing
Today at 4:16 am by Rocky
» The start of the work of the Fourth Baghdad International Water Conference
Today at 4:09 am by Rocky
» The Council of Ministers will suspend official working hours next Wednesday
Today at 4:07 am by Rocky
» An almost complete outage of water and electricity in western Anbar
Today at 4:06 am by Rocky
» Parliamentary expectations of extending the legislative term to approve the budget
Today at 4:00 am by Rocky
» Education: The cost of participating in the electronic school will amount to 200 thousand dinars
Today at 3:59 am by Rocky
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
Today at 3:58 am by Rocky
» A newspaper reveals a dark world that brings together bloggers and politicians
Today at 3:57 am by Rocky
» Al-Marsoumi: The bombing of the Kormor field undermined efforts to achieve self-sufficiency in gas
Today at 3:55 am by Rocky
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
Yesterday at 2:18 pm by Rocky
» Parliamentary efforts to transform Iraq into a global market for transferring Internet capacities
Yesterday at 2:07 pm by Rocky
» A parliamentary committee that enriches the political forces: Stop plundering Iraq’s wealth and work
Yesterday at 1:56 pm by Rocky
» Politician: Salem Al-Issawi is the most likely to assume the presidency of Parliament
Yesterday at 1:55 pm by Rocky
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
Yesterday at 9:50 am by Rocky
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
Yesterday at 9:40 am by Rocky
» Among them are the Iraqis... a list of the most sought-after immigrants to America
Yesterday at 9:38 am by Rocky
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
Yesterday at 9:29 am by Rocky
» The House of Representatives adjourns its session
Yesterday at 9:24 am by Rocky
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
Yesterday at 9:23 am by Rocky
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
Yesterday at 9:21 am by Rocky
» Alsumaria publishes the text of the law against prostitution and homosexuality
Yesterday at 9:20 am by Rocky
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
Yesterday at 9:19 am by Rocky
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
Yesterday at 8:42 am by Rocky
» International Business: Iraq has made progress in supporting businesses through investment and priva
Yesterday at 8:33 am by Rocky
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
Yesterday at 8:25 am by Rocky
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
Yesterday at 8:22 am by Rocky
» Parliamentary integrity: Combating corruption requires parliamentary legislation
Yesterday at 8:15 am by Rocky
» Al-Karaawi: America is trying to restrict Iraq
Yesterday at 8:13 am by Rocky
» The State of Law coalition moves to form the local government in Diyala
Yesterday at 8:12 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Yesterday at 8:11 am by Rocky
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
Yesterday at 8:09 am by Rocky