![]() ![]() ![]() ![]() Not only is it helping itself to extra cash from the West it is also gifting revenues to Russia, which has switched much of its energy output to China and India. Instead, by supporting higher oil prices, Saudi Arabia has aligned itself with Vladimir Putin. He thought he had secured commitments to keep the oil flowing amid concerns about global recession. It is also a slap in the face for President Biden, who travelled to Riyadh last year to meet the country's de-facto leader Mohammed bin Salman. What is so galling is that the Saudi-led move to cut production comes when petrol and gas prices have been tumbling. But food prices remain stubbornly high and the latest energy shock will make it harder to meet the target. Rishi Sunak has pledged to halve inflation by the year's end. Just as we were hoping that the worst of the energy price surge caused by Russia's war on Ukraine was coming to an end, a new axis of evil rears its head ![]()
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