“Financial Times”: UAE ‘Flexes Its Muscles’ Against Saudi Arabia
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The "Financial Times", a prominent British newspaper, highlights a deterioration in Saudi-Emirati relations on several levels, stressing that cracks in this unity have become apparent as the interests of Riyadh and Abu Dhabi diverge.
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The disagreement between Abu Dhabi and Riyadh isn't only about oil production
The UAE's ambition to enhance its production capacity has coincided with a deterioration in Saudi-Emirati relations, according to the British newspaper "Financial Times”.
“In the past few days, however, cracks in this unity have become apparent as the interests of Riyadh and Abu Dhabi diverge again on issues ranging from oil production, Yemen, normalization with “Israel”, and the way to handle the pandemic,” the newspaper said.
According to insiders, a dispute has erupted at the top echelons of Abu Dhabi's national oil firm regarding whether or not to leave the cartel. A withdrawal would allow the UAE to fund initiatives to diversify its economy, ranging from refinery and petrochemical output to a newly-formed commodities market and its own crude benchmark, both of which require access to volumes to succeed.
Furthermore, the UAE's exit from the cartel might ignite a free-for-all production, undermining the objective of Opec+, according to energy specialists.
Besides, Emirates Airlines decided to suspend all passenger flights to and from the Kingdom of Saudi Arabia until further notice, according to the Emirati newspaper, Al Bayan.
The company said, in a press statement, that the suspension decision, which will take effect from Sunday, July 4, 2021, at 23:00 local time, came in accordance with the instructions of the Saudi General Civil Aviation Authority.
It also stressed that passengers who arrive in Saudi Arabia as their final destination on or after July 5, 2021, will not be accepted for travel at their first point of departure.
