Page 12 - MEOG Week 26 2022

MEOG NEWS IN BRIEF MEOG

POLICY “As long as it takes, so Russia cannot in fact can ease soaring energy prices in the US in the
defeat Ukraine and move beyond Ukraine,” run-up to the November elections.
Biden’s trip to focus on Biden said. dramatic step to get more oil flowing, he will
“The fact is that if Biden doesn’t take a
Western sanctions on Russia have resulted
Israeli integration in a reduction of oil on world markets. pay a political price,” said Batmanghelidj.
The Newsweek report cited remarks by
Before Biden’s visit, the White House has
US President Joe Biden confirmed on sought to play down any direct talks between other analysts who said that additional oil
Thursday that he would meet Saudi Arabia’s Biden and Crown Prince Mohammed. supplies from Iran and Venezuela, another
King Salman as well as Crown Prince As a presidential candidate, Mr Biden said country under US sanctions, will help ease a
Mohammed bin Salman when he visits he wanted to make Saudi Arabia a “pariah” global energy shock that has been caused by
Riyadh next month, but stressed the trip is not following the 2018 killing of Saudi journalist the war in Ukraine.
aimed at pressuring the kingdom to boost oil Jamal Khashoggi, but his need to reduce oil The analysts said that Iran is the only
production amid a global price surge. prices has forced him to request a realpolitikal producer that can add more than 1 million
Biden placed the primary focus of his July rapprochement with Riyadh. barrels per day (bpd) of oil to the international
13-16 trip to the Middle East on relations with A White House official said Biden “looks markets as estimates suggest that combined
Israel and said he would be looking to “deepen forward to this important visit to Saudi additional supplies from Saudi Arabia, the
Israel’s integration with the region”. Arabia, which has been a strategic partner of United Arab Emirates and even Venezuela
He added, however, that he would not the United States for nearly eight decades”. could hardly reach over 0.5 million bpd.
press Saudi leaders to increase oil output to During his visit, the president will focus on Argus Media oil and gas analyst Nader
help offset soaring crude prices amid Russia’s a range of bilateral, regional, and global issues, Itayim told the Newsweek that Iran could add
invasion of Ukraine. including the UN-mediated truce in Yemen 1.25 million to 1.3 million bpd to the market if
The president said that his meetings in as well as expanding regional economic and it is freed from the sanctions.
Saudi Arabia will be focused on regional security co-operation, the official said. The analyses come days after reports from
issues, as he is expected to meet the leaders of Biden will also hold talks on “deterring a meeting of G7 group of advanced economies
Iraq, Jordan, Egypt and GCC countries there. threats from Iran, advancing human rights, in Germany suggested that France had
Playing down his meetings with Saudi and ensuring global energy and food security”. pressed the US for a removal of sanctions on
leaders, Biden said he would continue to argue Oil prices dropped after Biden’s comments. Iran and Venezuela.
that all Gulf states should be raising oil output, THE NATIONAL It also come right after Iran and the
not only Saudi Arabia. US, along with other international powers,
“I’ve indicated to them that I thought Biden will pay political resumed indirect talks in the Qatari capital
they should be increasing oil production Doha to revive a 2015 agreement on Iran’s
generically, not to the Saudis, particularly,” price if he ignores Iran oil nuclear programme.
Biden told reporters. PRESSTV
The US leader is facing mounting anger US President Joe Biden and his Democratic
at home as Americans continue to spend Party will pay a political price in the midterm
upwards of $100 to fill their cars with petrol, congressional election if they fail to remove COMPANIES
with the surge in petrol prices heaping Iran sanctions and do not allow more Iranian
pressure on the president and Democrats as crude to enter the international markets, says ADNOC signs deal
the November midterm elections approach. an economic analyst.
Biden said Americans will have to stomach Esfandyar Batmanghelidj told the with Emirati Talent
high prices for “as long as it takes”, tying the Newsweek in a report published on
pain at the pump to the invasion of Ukraine, Wednesday that a decision to lift US sanctions Competitiveness Council
reiterating his view that the price increase is on Iran will play to the benefit of Biden’s
entirely due to “Russia, Russia, Russia”. administration as more oil supplies from Iran Abu Dhabi National Oil Company (ADNOC)

P12 www. NEWSBASE .com Week 26 29•June•2022