On Tuesday, Sheikh Mohammed bin Zayed al-Nahyan, the president of the UAE, goes to Moscow to meet with his Russian counterpart. The new visit’s program is likely to be dominated by energy and warfare.
Days earlier, the OPEC+ announced an agreement and the statement made on Monday by the national news agency of the UAE, followed the agreement. In spite of Washington’s pressure, the group of oil producers-which includes the UAE and Russia-agreed to drastic cutbacks in oil output.
It intends to reduce output by two million barrels per day, which will be the biggest supply reduction since 2020. As the Russian incursion against Ukraine affects global energy supply, the presidents get ready for the meeting.
Ties between Washington and its traditional allies in the Middle East have become more tense as a result of the oil output cut by OPEC led by Saudi Arabia and its Russian-led allies.
“During his visit, His Highness Sheikh Mohammed will discuss with President Putin the friendly relations between the UAE and Russia along with a number of regional and international issues and developments of common interest,” the WAM stressed in its report.
Last week, the Washington made the implication that it was reevaluating its ties with Saudi Arabia in an effort to lessen OPEC’s influence over oil prices. Suhail al-Mazroui, the energy minister for the UAE, stated that the output drop was “technical, not political.”
The government of US President Joe Biden had worked very hard to stop it. In anticipation of the November elections, in which his Democratic Party may lose the majority in Congress, the White House intended to keep gas prices under control.
US Concerns; UAE Middle Play
In an effort to improve relations with Saudi Arabia, Biden travelled to Jeddah, Saudi Arabia, in July for a Gulf conference. But he departed the nation without concluding a contract to increase oil output. Since the Biden government entered office, relations between the monarchy and Washington have deteriorated.
The “special military operation” that Russia is conducting in Ukraine has received no official response from the UAE. Anwar Gargash, the assistant to the Emirati president, stated months ago that the Gulf nation feels “taking sides will only lead to further violence.” Additionally, according to Gargash, Abu Dhabi’s top aim is to “urge all parties to resort to diplomatic action.”
Abu Dhabi is a longtime ally of the Washington, and its position on the Ukraine war shows an effort to maintain the middle position in its relationships. According to analysts, a new international order that accords equal importance to Moscow and Beijing to the Gulf state informs Abu Dhabi’s approach.
The output reduction by OPEC+ might also help oil prices, which have fallen to approximately $90 per barrel. The oil price has hit a $120-level a few months earlier.
Saudi Arabia and the other OPEC+ participants have said that their goal is to reduce instability rather than to pursue a certain oil price. In November, US authorities are debating releasing 10 million barrels of oil from the nation’s strategic petroleum reserves.
The action taken by Washington aims allegedly at safeguarding American taxpayers and advance security of supply. The move, however, is more guided by political agenda rather than societal or economic reservations.
The White House is gearing up for significant mid-term elections in which it retains low chances of success. A rising energy prices may deteriorate the condition for the Democrats in November Election.