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Putin Violates International Sanctions On Russia And The American Accuses MBS - Foreign Affairs - Nairaland

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Putin Violates International Sanctions On Russia And The American Accuses MBS by SummaryChannel: 8:58pm On Sep 25, 2023
Putin violates international sanctions on Russia, and the American media accuses Prince Mohammed bin Salman of increasing oil prices

https://www.youtube.com/watch?v=lOP5k5R9Vvk

New Saudi and Russia news, the latest developments in the oil and gas markets, and Saudi-Russian relations

New oil news presented in this episode of Samri Channel.
The episode focuses on a report broadcast by the British Financial Times newspaper in which it said that Russia had succeeded in exceeding the oil price ceiling ($60 per barrel) that the G7 countries had imposed on it last December as part of a package of Western sanctions imposed on Moscow due to its invasion of Ukrainian territory. The Financial Times report confirmed that Russia succeeded in crossing the price ceiling barrier due to its coordination with the Kingdom of Saudi Arabia under the OPEC+ bloc on the issue of voluntary production cuts, which pushed crude oil prices to rise as a result of the gap between supply and demand.

The Russian authorities were also able to use what is known as the shadow fleet to transport their oil to various markets without the need for European shipping companies. Even Western insurance companies that withdrew from the Russian oil market, Moscow found alternatives in China, Singapore, and some Middle Eastern countries, especially the United Arab Emirates.
The episode also refers to the expected impact of Russia's decision to ban diesel exports on fuel prices in European and American markets, which increases the suffering of US President Joe Biden, whose popularity is subject to repeated setbacks due to his economic policies.

The episode also indicates details of Saudi support for Russia to enable it to escape Western sanctions, and the US administration’s preference for President Biden to be patient with Riyadh in the hope of obtaining a comprehensive normalization deal with Israel, which will greatly raise Biden’s shares during the presidential elections next year. The Saudi Foreign Ministry had announced an upcoming visit by its ambassador to the West Bank government in Ramallah, an indication of the Kingdom’s insistence on including the Palestinian issue in any normalization with Israel.

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