Tag: oil

The recent phone conversation between the President of Russia and the Crown Prince of Saudi Arabia might be interpreted as the Kremlin’s move to counter the recent U.S. President Joe Biden’s official visit to Riyadh.

In a world of growing polarity, Kazakhstan has been attempting to portray itself as a bridge connecting the East and the West. However, the so-called Russian “special operation” in Ukraine has forced the Central Asian nation to distance itself gradually from Moscow.

The Ukrainian crisis, which was supposed to represent the collapse of the Russian economy and its leading role in Eurasia, is having unexpected implications. The sanctions imposed on Moscow’s energy supplies have caused oil prices to rise and created some opportunities for the Persian Gulf countries.

Turkmenistan seeks regional and international partners to strengthen the national economic performance and attract investors in infrastructural projects. Recent meetings between Turkmen and Russian official representatives and companies underline the Kremlin’s strategy to increase its presence in the country and Ashgabat’s necessity to diversify its commercial partners.

In the last few years, the Russian company Tatneft has expanded its business in the MENA region. Its roots in the Tatarstan Republic make it a perfect tool in the hands of the Kremlin, which wants to balance the Western influence in the area.

Saudi Arabia may refuse to cooperate with the Russian Federation in terms of coordinating oil production volumes due to Covid-2019 which is demonstrating how a virus might impact not only the national security but also the economy and the international trade market with serious repercussion in the case of Russia because the country strongly depends on energy export.