Commodities, Emerging Markets, Energy, Frontier Markets

Saudi Arabia Pressured Putin To Abandon Support For Assad In Return For Oil Production Cut, NYT Says

Russian President  Vladimir Putin talks with Saudi Arabian officials during the G20 leaders summit in Brisbane November 15, 2014.  Photo courtesy of G20.

Russian President Vladimir Putin talks with Saudi Arabian officials during the G20 leaders summit in Brisbane November 15, 2014. Photo courtesy of G20.

According to the New York Times (NYT), Saudi Arabia had promised to cut oil production if the Kremlin agreed not to support Syrian President Basharal al-Assad.

The NYT reported that Saudi Arabia was pressuring Vladimir Putin to abandon his support for Syrian President Basharal al-Assad, however an agreement has yet to be met.

In November of 2014, a Saudi delegation made a trip to Moscow to discuss the Syrian issue, according to the NYT, citing a source within the administration of U.S. President Barack Obama.

According to the NYT’s source, the two countries had conducted active and tense dialogue over the past few months and it remains unclear how the death of King Abdullah may affect the talks.

The NYT obtained the information regarding the negotiations between Russia and Saudi Arabia from several diplomatic, intelligence, and political sources – all of whom spoke on condition of anonymity due to diplomatic protocols.

“If oil can serve to bring peace in Syria, I don’t see how Saudi Arabia would back away from trying to reach a deal,” a Saudi diplomat said.

According to the NYT, sources in Saudi Arabia and those involved in the talks believed – assuring the United States – that they had a certain leverage over Russian President Vladimir Putin due to “their ability to reduce the supply of oil and possibly drive up prices”.

Read more from the New York Times (NYT)

Discussion

One thought on “Saudi Arabia Pressured Putin To Abandon Support For Assad In Return For Oil Production Cut, NYT Says

  1. Reblogged this on reality paradigm.

    Like

    Posted by realityparadigm | February 7, 2015, 7:52 pm

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