Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Mujahideen Movement: The two were killed along with dozens of others from their family in a cowardly Zionist assassination that targeted the Sabra neighborhood today
The Palestinian Mujahideen Movement mourns the martyrdom of its Secretary-General, Asaad Attiya Abu Sharia "Abu Al-Sheikh", along with his brother Ahmad
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework
Sources to Al Mayadeen: Number of documents so great that merely studying them, along with accompanying images and footage will require a great deal of time.

Russia oil price cap political, OPEC decision economic: Saudi Minister

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Dec 2022 12:56
  • 1 Shares
3 Min Read

The Saudi Energy Minister says the price cap imposed on Russian crude oil was created for political purposes.

  • x
  • Saudi Energy Minister Prince Abdulaziz bin Salman (Reuters)
    Saudi Energy Minister Prince Abdulaziz bin Salman (Reuters)

Saudi Energy Minister Prince Abdulaziz bin Salman considered on Sunday that the impact of European sanctions and the G7 imposed price cap on Russian oil "did not bring clear results yet."

"What is happening now in terms of sanctions and price caps imposed and all of it really did not bring clear results, including measures implemented on Dec. 5, we see a state of uncertainty in implementation," the Saudi Minister told a forum held following the country's 2023 budget announcements in Riyadh.

He indicated that Moscow's response to these tools needed to be taken into consideration when looking at the state of play in global markets.

Referring to the price cap imposed on Russian crude oil, Prince Abdulaziz pointed out that "these tools were created for political purposes and it is not clear yet whether they can achieve these political purposes."

The Saudi diplomat said other factors affecting the market going into 2023 include China's Covid-19 policies, adding that the impact on China's economy from easing Covid-19 restrictions still "needs time".

Related News

Trump eyes Gulf billions, but war on Gaza blocking normalization: FT

US drops 'Israel' normalization demand in Saudi nuclear talks: Reuters

The Minister further explained that "central banks are still preoccupied with managing inflation, no matter the cost of these measures and their possible negative impact on global economic growth."

Prince Abdulaziz considered that when taken into consideration, the OPEC+ decision to cut production by two million barrels per day was proven to be correct.

On December 4, OPEC+ decided to maintain its oil production targets in line with the October accord when the group reduced output by two million barrels of oil per day.

Prince Abdulaziz affirmed that OPEC+ would continue to focus on market stability in the coming year, pointing out that every member of the alliance takes part in decision-making.

"Group action requires agreement and therefore I continue to insist that every OPEC+ member, whether a big or small producer...be a part of decision-making," he said, noting that "consensus has positive implications on the market."

The Saudi Minister stressed that OPEC+ takes its decisions from a purely economic perspective regardless of any political considerations, in the wake of Western accusations of the coalition taking the decision to cut production for political reasons.

Read more: KSA denies oil output hike discussion, says OPEC+ may cut if needed

  • Riyadh
  • Russia
  • OPEC+
  • Abdulaziz bin Salman
  • Saudi Arabia
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS