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Russia: Saudi Ground Troops In Syria Could "Immediately" Destabilize Oil Market - Business - Nairaland

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Russia: Saudi Ground Troops In Syria Could "Immediately" Destabilize Oil Market by Saladin25(m): 5:39pm On Feb 13, 2016
As part of Saudi Arabia's efforts to strengthen
ties with the US following the latter's deal with
Iran, the Saudi Defense Ministry has proposed
deploying ground troops to assist in the fight
against ISIS in Syria. A senior Russian
lawmaker said Monday that doing so could
lead to the destabilization the global oil
market.

Vladimir Dzhabarov, the first deputy chairman
of the Russian Federation Council's
International Affairs Committee, was quoted by
Sputniknews as saying, "Should Saudi Arabia
come into a direct confrontation with the
Syrian army, the oil market will immediately
undergo a destabilization."

It bears mentioning that Russia has been
particularly verbose in recent weeks with
regard to the oil market. Late last month,
Russia put out feelers likely with the intention
of weighing OPEC's response to indications
that a possible meeting in the next couple of
month's could yield an agreement on cutting
output. Oil prices responded accordingly-
namely, with volatility. And, predictably, hopes
for such a meeting quickly fizzled.

Add to this the very significant fact that
turmoil in the Middle East has yielded an
atypical fear of a "supply eruption" rather than
a "supply disruption." This is because the
main antagonists in the region are Saudi and
Iran, both of whom are deploying boosted oil
production as the new phase of the proxy war
between them. This began in earnest with
Saudi's severing diplomatic ties with Iran in
early January. It continues, as Iran returns to
the oil market and as Saudi-led OPEC
continues to produce quota-free.

So given these realities, it is important to
consider Dzhabarov's in light of the bigger
picture: Russia and Iran are allies in Syria.
The US is fighting ISIS in Syria. Saudi feels
increasingly isolated in the region because of
this alliance and the P5+1 and Iran accord. It
is for this reason that Saudi is trying to
strengthen ties with the US at the present
moment.

Saudi Foreign Minister Adel al-Jubeir was
quoted by the Associated Press as saying
Monday after meeting with US Secretary of
State John Kerry, "The coalition will operate
the way it has operated in the past, as an
international coalition, even when there is a
ground-force contingent in Syria."

"The U.S. is leading the international coalition
against ISIS in Syria," he said. "There would
be no international coalition against ISIS in
Syria if the U.S. did not lead this effort," he
continued. Al-Jubeir did not offer any details
on the "how," "when," or "how many troops."

As noted above, Saudi is attempting to
reclaim the geopolitical clout which it
considers weakened as a result of the
strengthened US-Iran relationship, as well as
Russia and Iran's cooperation in Syria.

However, in addition to asserting its
leadership in the region, Saudi is also
attempting to demonstrate that it is willing to
address US concerns about the ISIS threat to
regional stability.

http://oilpro.com/post/22166/russia-saudi-ground-troops-syria-could-immediately-destabilize-oi
Re: Russia: Saudi Ground Troops In Syria Could "Immediately" Destabilize Oil Market by Saladin25(m): 5:43pm On Feb 13, 2016
The Naira will fall if Saudi and Turkey should bring in their ground forces since the Saudi/Turkey backed Syrian rebels are losing the war. President Buhari and his cabinet with governors should find a way out.

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