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Russia’s Growing Economic Ties with the Middle East
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Russia’s Growing Economic Ties with the Middle East

Carole Nakhle
GIS, 2017
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8

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  • Innovative
  • Eye Opening
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Recommendation

Russia’s role in the Syrian conflict overshadows news about its growing financial and economic links to the Middle East. Beginning in 2015, Qatar, Kuwait, Saudi Arabia and other countries in the region have been making billions of dollars of foreign direct investments in Russia. At the same time, Russia has been busy expanding energy projects in the Middle East. According to this brief but insightful article from energy economist Carole Nakhle, long-term geopolitical ties are multiplying between parts of the world that were once rivals. getAbstract recommends this eye-opening report to policy makers, energy economists and corporate executives.

Take-Aways

  • In 2014, in response to Russia’s takeover of Crimea, the United States and the European Union forced economic sanctions on Russia that, accompanied by the collapse in oil prices, dealt a sharp blow to the country’s economy.
  • However, Russia proved itself unexpectedly impervious to these setbacks.
  • Since 2015, Kuwait, the United Arab Emirates, Abu Dhabi, Saudi Arabia and Bahrain have directed billions of dollars of foreign direct investments to Russia.

About the Author

Carole Nakhle is an energy economist and the founder and CEO of Crystol Energy, a London-based consultancy.

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    A. C. 2 years ago
    It would be interesting to see how this article holds up in light of recent events and how the ties between these countries have developed in the past few years.