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Middle East Continues To Work Closely With Russia On Oil Matter
#1
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After reinventing itself as a major power in the Middle East by force in Syria, Russia is now using its other strong suit, energy, to expand its influence across the region.

https://www.bloomberg.com/news/articles/...iddle-east
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#2
A series of agreements is allowing Russia and the Gulf states to cooperate in areas where their interests meet, looking beyond Syria where they have backed opposing sides in a brutal proxy war. Over the past month alone, Russia brokered the first deal between the Organization of Petroleum Exporting Countries and non-OPEC nations in 15 years to cut oil production, secured a $5 billion investment by Qatar in oil giant Rosneft PJSC, and then saw Rosneft agree to pay as much as $2.8 billion for a stake in an Egyptian gas field.
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#3
“Russia is really keen to increase leverage in the Middle East by every means,” said Fyodor Lukyanov, chairman of Russia’s Council on Foreign and Defense Policy.
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#4
It’s a reflection of how events in the region are combining in favor of Russian President Vladimir Putin as rarely before. A cooling of U.S. alliances in the Gulf in recent years, the havoc cheaper oil has wreaked in energy-dependent economies and a recognition that Russia can no longer be ignored on regional security issues mean Putin is pushing at an increasingly open door.
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#5
Soviet Sphere

Russian companies and diplomats are making most inroads in the Soviet-era markets of North Africa and Iran, as they revive political, arms trading and energy relationships that withered following the fall of the Soviet Union. Russia has also rebuilt a strong relationship with Egypt through President Abdel Fattah al-Sisi.
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#6
Ambitions in the Gulf remain limited because U.S. security and economic ties are so deeply entrenched, Lukyanov said. And while geopolitics played a significant role, the primary Russian motivations for cutting deals to stabilize the oil price and secure investment in Rosneft were financial, he said.
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#7
Diplomats involved in the agreement between Russia and OPEC saw the extensive oil diplomacy as an area of non-confrontation that both sides used to open up channels at the highest levels to secure a common goal, namely to bolster oil prices. The deal involved direct talks between Putin and his Saudi and Iranian counterparts, while the breakthrough came from a late night phone call between the Russian and Saudi oil ministers.
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#8
Similarly, when Qatar bought a 19.5 percent stake in Rosneft in a 10.2 billion-euro ($10.6 billion) deal that also involved Glencore Plc this month, one attraction for the tiny gas-rich emirate was geopolitical, according to a person familiar with the negotiations. Qatar saw the investment as a path to potential business and political links, said the person, who declined to be named due to the sensitivity of the issue.
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#9
Changing Picture

“What is occurring now is about the bigger picture,” said Theodore Karasik, senior adviser at Gulf State Analytics. He sat on Dubai’s Russian Business Council until this year. “It’s not just about Syria, but all of the Levant and, because of Egypt and Libya, North Africa too.”
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#10
Changing Picture

“What is occurring now is about the bigger picture,” said Theodore Karasik, senior adviser at Gulf State Analytics. He sat on Dubai’s Russian Business Council until this year. “It’s not just about Syria, but all of the Levant and, because of Egypt and Libya, North Africa too.”
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