Petro-rich nations in the Persian Gulf are buying discounted Russian oil products as Moscow continues to seek willing buyers while the West shuns the warring nation.
In addition, the two countries, particularly the UAE, have emerged as key trade and storage hubs for Russian oil and fuel. Trading firms import Russia energy to the UAE and re-export it to Pakistan, Sri Lanka or East Africa, the report said. Meanwhile, Saudi Arabia is importing 100,000 barrels a day from Russia after seeing effectively zero before Russia war on Ukraine, translating to an annual pace of about 36 million barrels.
Source: Financial Digest (financialdigest.net)
God bless Saudi Arabia and UAE 🇸🇦🇦🇪
They are lubing each other up for the reach-around
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Saudi Arabia, U.A.E. Scoop Up Russian Oil Products at Steep DiscountsDespite U.S. objections, the Gulf countries are using the Russian products internally, including for consumption and refining purposes, and exporting their own barrels at market rates, boosting their profits. wheel Unfortunately, it is true that US restrictions against Russia results not to become fruit full. Recently visit of China president also be good influence on Asia specially Middle East . Most of Asians countries to desired to purchase Russian product which is already have India. The WSJ should know that the increase in the world's population will cause an increase in the demand for strategic raw materials essential to modern economies. Which is the only country in the world to have all these raw materials? Russia.
Source: WSJ - 🏆 98. / 63 Read more »
Saudi Arabia Transfers Aramco Shares Worth Nearly $78 Billion to Wealth FundSaudi Arabia put a second 4% stake of state oil giant Aramco under the control of the country’s sovereign-wealth fund, as the kingdom leverages a year of high oil prices toward diversifying its economy I have read that one of Vision2030's goals is diversifying sources of income😁, this step is important to achieve this goal. Using Aramco shares to boost other companies in PIF is a smart move 👌 As you mentioned, this step will be great to achieve one of the Vision’s goals👏 I mean diversifying our income sources👌 And I’m sure this will be one of the best plans in the Saudi economy 🙏🇸🇦 Why is Saudi Arabia siding with Godless infidels like China and Russia? God is the ultimate power.
Source: WSJ - 🏆 98. / 63 Read more »
Saudi Arabia to host Hamas chief Haniyeh on Monday: Palestinian sourceHamas political chief Ismail Haniyeh will visit Saudi Arabia for the first such visit in years, according to a Palestinian source
Source: trtworld - 🏆 101. / 63 Read more »
Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth FundSaudi Arabia has put a second stake of state oil giant Saudi Aramco, valued at nearly $78 billion, under the control of the country’s sovereign-wealth fund It’s a brilliant step to be honest. Recognized as one of the largest sovereign wealth funds in the world, the PIF has led economic diversification in Saudi Arabia through strategic international and national investments.
Source: WSJ - 🏆 98. / 63 Read more »
Lindsey Graham defends trip to Saudi Arabia after previously condemning crown princeSen. Lindsey Graham (R-SC) defended his trip to Saudi Arabia by explaining how the country has made changes in recent years for the better. Don't they stone the gays in Saudi Arabia? Watch your six (ha!) Senator! There is no evidence to support any claim made against the Crown Prince. He should’ve known that from the beginning 🤓 Meh ... Graham
Source: dcexaminer - 🏆 6. / 94 Read more »
Saudi prince gives 4% Aramco stake to public investment firmSaudi Arabia’s crown prince has announced the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth fund. The move Sunday further boosts its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman’s decision, announced by the state-run Saudi Press Agency, sends the stake to the Saudi Arabian Investment Co., known as Sanabil Investments. Sanabil is under the sovereign wealth fund known as the Public Investment Fund. Is it Jared and Ivanka? Copying Norway's system. That's great for the people. It's a trick.
Source: AP - 🏆 728. / 51 Read more »