World

Russian Federation proposes a mechanism to monitor crude oil exports

Russian Federation proposes a mechanism to monitor crude oil exports

But any sign that the deal could unravel could see oil and gas prices fall back down, pinching the finances once again for countries like Saudi Arabia and Russian Federation.

While Russia and a US -led coalition are both targeting Islamic State (IS) fighters with air strikes in Syria, Russia has strongly backed President Bashar al-Assad's government throughout the six-year war there while the United States backs rebels.

According to Putin, now over one-third of Russia's electricity is produced with nuclear energy, hydroelectric energy and other renewable energy sources, while about 50 percent of it is generated with natural gas, which helps to significantly reduce emissions.

Only two years ago, the idea of a Saudi monarch visiting Moscow would have seem far-fetched, as Moscow and Riyadh have opposed each other for decades on every major regional conflict, from Afghanistan to the role of the Muslim Brotherhood.

OPEC ministers attending the Moscow event said they were considering extending the deal or making a deeper cut.

In reply to the question about possible consequences from Turkey's warning that it could cut oil supplies from Iraqi Kurdistan in connection with the referendum, Putin said this "will tell on global energy markets, pushing the prices up".

Analysts see Salman's trip to Moscow, which follows other visits by Gulf royals, as the clearest sign yet that Russia's high-risk gamble in Syria has paid off.




Putin, who is widely expected to seek and easily secure his fourth term as president of a country whose tightly-controlled political system leaves little room for surprises, suggested on October 4 that he will announce a decision by early December.

"This is the first visit of the king of Saudi Arabia to Russian Federation in the history of our relations, and this in itself is a landmark event", Putin said, according to a Kremlin statement. Russian Federation and Saudi Arabia, despite their differences, have been drawn together by a common interest in propping up flagging world oil prices, and by the fact that Moscow, since its military intervention in Syria, has clout in the Middle East that other players in the region can not ignore.

Members of OPEC, of which Saudi Arabia is the biggest producer, have joined with non-member Russian Federation and other countries in cutting crude output in a pact that has helped prop up prices.

The Dubai-based television channel also said that Saudi Arabia had signed a memorandum of understanding to help the kingdom in its efforts to develop its own military industries.

One can say that Riyadh succeeded back then in breaking the ice in its relations with Moscow.

Saudi Arabia has agreed to invest $1bn in Russian energy projects, while Russian petrochemicals giant Sibur will build a plant in Saudi Arabia in a separate $1.1bn agreement.

"Relations between Russian Federation and Saudi Arabia have reached a historical moment", said Jubeir, speaking through an interpreter.


  • Pinnick wants Super Eagles to be calm, clinical

    Pinnick wants Super Eagles to be calm, clinical

    I have no doubt we have the quality to achieve victory, but we will not make the mistake of under rating the Zambians, " he said. I'm confident that we will get the desired result because the handlers know what they want and they know how to get the result.
    Russian airstrike in Syria Leaves Al Nusra leader in Coma

    Russian airstrike in Syria Leaves Al Nusra leader in Coma

    The activist-operated Deir Ezzor24 says dozens of rockets and barrel bombs fell on Mayadeen and surrounding villages on Wednesday. Islamic State released a video on Tuesday of two injured men it claimed were Russian soldiers captured in Deir al Zor province.
    Merlin said to have approached SeaWorld over possible deal

    Merlin said to have approached SeaWorld over possible deal

    Plus, Merlin is not interested in buying all SeaWorld parks, according to Bloomberg, which first reported on the talks. Blackstone sold its final block of shares this year, cementing a return of about 2.7 times its original investment.
  • The 2017 Nobel Prize in Physics ran through Hanford site

    The 2017 Nobel Prize in Physics ran through Hanford site

    The waves detected by the laureates came from the collision of two black holes some 1.3 billion light-years away. Barish said he does not know what he will do with the money, while Thorne said he has something in mind.
    Street Fighter 5 to Finally Get Arcade Mode

    Street Fighter 5 to Finally Get Arcade Mode

    In late August, dataminer X-Kira found files that indicated that an arcade mode and additional V-Triggers were coming to the game. Some images were shared over at Capcom-Unity of how the game will look in this new update, which you can see here.
    Most Russian 'Troll' Facebook Ads Ran After the 2016 Election

    Most Russian 'Troll' Facebook Ads Ran After the 2016 Election

    Mark Warner, D-Va., the ranking Democrat on the Senate Intelligence Committee, called on Facebook to publicly release the ads. Wisconsin is at the center of new allegations of tampering by the Russians in last year's presidential election.
  • Marvel's Punisher Pulled From NYCC Due to Las Vegas Shooting

    Marvel's Punisher Pulled From NYCC Due to Las Vegas Shooting

    The Punisher's gun toting, ruthless vigilante character was first introduced to the Marvel comics universe over 42 years ago. According to Deadline , the event was canceled out of respect following the mass-shooting in Las Vegas .
    Pink announces North American 'Beautiful Trauma' tour for 2018

    Pink announces North American 'Beautiful Trauma' tour for 2018

    P!NK has also released two other tracks from the album, first single, " What About Us " and " Beautiful Trauma " to rave reviews. After a cameraman corrects on her child's age, Pink replies, "I said eight-year-old?" 'And then your album's out'.
    Microsoft Edge for Android revealed, Arrow Launcher renamed Microsoft Launcher

    Microsoft Edge for Android revealed, Arrow Launcher renamed Microsoft Launcher

    Some features like roaming passwords and support for iPads/Android tablets aren't available yet but will come in the future. Microsoft Edge for iOS and Android will match the version of Safari and Chrome that is now available for iOS and Android.
  • Cleveland Indians vs. New York Yankees Game 1

    Cleveland Indians vs. New York Yankees Game 1

    They are really well balanced. "I've thrown against them a couple times this year, and in the past I've thrown against them". Luis Severino will have to wait to redeem himself for his wild-card game implosion against the Twins.
    South Africa players oppose CSA's proposed four-day Tests idea

    South Africa players oppose CSA's proposed four-day Tests idea

    Sadly, that power only resides on the field, off the field the players and Cricket South Africa (CSA) continue to be at a big of loggerheads.
    Brazil's Olympic Committee President Arrested For Corruption

    Brazil's Olympic Committee President Arrested For Corruption

    A source is in possession of emails that could corroborate the accusations, according to Brazilian justice officials. Diack was a voting member of the International Olympic Committee when Rio was awarded the Summer Olympics in 2009.