Russia has made a deft move in the current oil crisis, taking the lead in the formation of a new cartel, led by Moscow, which controls may be almost three-quarters of the volume of world oil production, says the American edition Busines Insider. According to him, the emergence of such a cartel, which is called ROPEC (Russia and the OPEC countries -. Ed.), Can lead to a geopolitical disaster.
The meeting between Russia, Qatar, Saudi Arabia and Venezuela, February 16 was the first step. The next meeting will be held in mid-March, with a larger group of participants, and if Russia can be reached there at least a minimum consensus, it will strengthen its leading position, the article says.
Against the background of deteriorating relations with Saudi Arabia’s longtime ally – the US Russia managed to convince Riyadh to go to the freezing of oil production. Saudi Arabia, whose relations with Washington have cooled after the nuclear deal with Iran, had to find a new ally to protect their interests in the Persian Gulf, given the threat of Riyadh from the “Islamic State” (banned in Russia) and Iran.
Although Russia and Saudi Arabia are at opposite positions on the issue of the Syrian settlement, a serious drop in oil prices was an opportune moment for Moscow to conclude an alliance with Riyadh, said the publication.
If Moscow also be able to negotiate with Iran and Iraq, Russia will become the informal leader of the main oil-producing countries in the world, accounting for almost 73% of world reserves of black gold.
In addition, Russia is promoting the idea to abandon the settlements in petrodollars and negotiates with the various countries of the payment for oil in local currencies. In the case of a ROPEC probability of failure of petrodollars will increase dramatically, and the new “cartel of major oil producing countries in the world, headed by the Russian disrupt the current balance of power,” says the publication.
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