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Russian President Vladimir Putin, center left, and Saudi Arabia's King Salman, right, in Riyadh, Saudi Arabia, on Oct. 14, 2019. (Alexander Zemlianichenko/AP)

The U.S.-led effort to thwart Russian President Vladimir Putin is being actively undermined by America’s supposed Persian Gulf allies, Saudi Arabia and the United Arab Emirates. The dictators who run these petrostates are raking in profits from oil sales while sky-high prices are filling Putin’s coffers and hurting the U.S. and European economies. With friends like these, who needs enemies? And why is the Biden administration playing along?

As Putin uses Russia’s energy to both blackmail and punish the West for helping Ukraine, Saudi Arabia’s de factor ruler, Crown Prince Mohammed bin Salman (known as MBS) and UAE Crown Prince Mohamed bin Zayed al-Nahyan (known as MBZ) have been rejecting calls to do the one thing in their power that would help: pump more oil.…  Seguir leyendo »

Observation deck of the Dubai Frame, which is positioned so visitors can see landmarks of modern Dubai from one side, while older parts of the city are seen from the other. Photo by GIUSEPPE CACACE/AFP via Getty Images.

The recent doom and gloom between UAE and Saudi Arabia appears to be lifting as both sides soften – there is nothing more sobering than demand destruction looming on the horizon – but unless the hardwired distance between Riyadh and Abu Dhabi is bridged, further OPEC+ negotiations could be derailed and a period of uncapped price volatility ushered in.

This is the second time the UAE has made clear its displeasure with the rudiments of the April 2020 production agreement – the first time was following the November OPEC meeting – and it is hard to imagine either Emiratis or Saudis backing down from their fundamental positions at the next OPEC Joint Ministerial Monitoring Committee (JMMC) and set of ministerial meetings.…  Seguir leyendo »

This summer, disgruntled Saudis took their grievances online in droves, complaining of ever-growing inequality, rising poverty, corruption and unemployment. Their Twitter campaign became one of the world’s highest trending topics. It caused great alarm within elite circles in Saudi Arabia and sent ripples throughout the region. The rallying cry that “salaries are not enough” helped to prove that the monarchy’s social contract with its people is now publicly coming unstuck, and on a significant scale.

Many experts believe that the Gulf states have survived the Arab Spring because they are different. After all, they’ve weathered numerous past storms — from the Arab nationalist revolutions of the 1950s and ’60s to Saddam Hussein’s 1990 invasion of Kuwait to an Al Qaeda terror campaign in 2003.…  Seguir leyendo »