Article Image

IPFS News Link • Saudi Arabia

The Real Reason Saudi Arabia Killed Doha

• Zero Hedge

The Russians and others agreed to proceed without Iran, planning to include them at a later date. So if everything was known beforehand, why did the Saudi's pour cold water on the aspirations of the remaining members, risking its alienation from Russia and the OPEC community?

Was it simply Saudi enmity toward Iran? Not exactly. Upon closer scrutiny, we can find the Saudi masterstroke behind Doha.

It is well known that Saudi Arabia is heavily dependent on oil revenues, and that those revenues are on the brink of collapse. They have sought financial aid from various international agencies to support their dwindling economy. But the trick here is to determine exactly how desperate the Saudis are. Certainly not as desperate as other countries.

Angola has recently sought support from the International Monetary Fund (IMF). Venezuela's struggles started well before crude prices dropped to 12-year lows and is fighting to avoid a disaster. Azerbaijan has also approached the IMF and the World Bank for help.


JonesPlantation