Last week, Saudi Arabia’s King Salman bin Abdulaziz Al Saud kicked off a month-long tour in Asia in a bid to win over one of the fastest growing regions in the world. Responding to the steady decline of American influence in the Middle East, the scrapping of the Trans-Pacific Partnership, and China’s expanding clout, Saudi Arabia has been hedging its bets over the past few months by deepening its commercial and political relationships with countries like the United Kingdom and Japan.
Published in Southeast Asia
2017 will be a challenging year for Saudi Arabia, who is losing its leadership in the Middle East and faces looming economic challenges stemming from low oil prices.
In Syria, on February 24 last, Iraq carried out its first bombing against Isis in the region of Abu Kemal, but the tactical and intelligence support to the Iraqi forces was been given by Russia and Iran, not by the United States which, however, also tacitly allowed the operations.
The conflict between Armenia and Azerbaijan over the Nagorno-Karabakh became as one of the most tragic and complicated conflicts contributing to instability in the entire region. The conflict has claimed thousands of lives and over one million people became refugees and internally displaced persons (IDPs).
Published in Eastern Europe
Libya is planning to double its crude oil production next year. Although it has been an OPEC member since 1962, as well as the African country with the largest (and best quality) oil reserves, for obvious geopolitical reasons it has not been involved in the recent agreement between OPEC and non-OPEC countries, which favours the Russian Federation, reconnects Russia to Saudi Arabia, thus avoiding too close a link between Russia and Iran, and make Russia play a primary broker’s role in the Middle East.
During the 13th EU-India Summit, held on 30 March 2016 in Brussels, Prime Minister Narendra Modi (India), Donald Tusk (President of the European Council) and Jean-Claude Junker (President of the European Commission) emphasized on the strategic, security and economic potentials of this relationship. This article, however, focuses on a significant but less publicized area of strategic compass between India and the European Union- the Joint Declaration on A Clean Energy and Climate Partnership.
Published in South Asia
OPEC, which is the cartel of the 14 major oil producers, has recently adopted a policy that is bound to change all future political, strategic and economic equilibria.
Published in Economy
Of-late the monotonous oscillation of oil prices is making it difficult for writers and analysts to get any sense out of this whimsical trend. After the Vienna Oil deal in November 2016 and after the 21st January meeting between oil producers the oil prices have been moving up and down in the $50-$60 band.
Published in Market Insights