Page 47 - bneMag April 2022 Russia living with sanctions

bne April 2022 Eurasia I 47
Saudi Arabia
After days of silence, Saudi Arabia voted to condemn the Russian invasion of Ukraine in the UN General Assembly. The Saudi position is so important given its large oil capacities amid a potential crisis in energy markets that will affect almost every country, especially those of Europe.
Riyadh has been trying to strike a balance between its political interests and the benefits it is currently enjoying from record-high oil prices. The Saudis welcome the OPEC+ decision that targets increases of 400,000 barrels per day (bpd) each month.
Despite the Saudi vote in the UN General Assembly, it is clear that the Saudis would prefer not to show a hostile attitude towards Moscow and would prefer to end the crisis as soon
as possible to preserve their trade
and military stakes in both camps.
This was obvious when Saudi Crown Prince Mohamed Bin Salman showed the readiness of his country to act as a mediator in the Russian-Ukrainian crisis after he received phone calls from both leaders on Thursday.
Israel
The Israelis voted to condemn the Russian invasion of Ukraine in the
UN General Assembly. The move was expected as Tel Aviv is keen to preserve its deep alliance with the US and the West, which is also linked to ideology and liberal Western values. On the other hand, the Israelis do not want to escalate their position to show aggressiveness toward Russian interests in the region, especially in Syria where both Israel
and Iran depend on Moscow to enhance their power. It won’t be a surprise if the Israelis actively engage in mediation attempts between the two adversaries, but the question will be the extent to which the Russians can accept such attempts, given the long strategic partnership between Tel Aviv and Washington.
Egypt
Egypt voted to condemn the Russian aggression on Ukraine. The position raises challenging questions on the
Georgia to apply for EU candidate status
bne IntelliNews
Georgia is preparing an application for EU candidate status, which the Georgian authorities will send to Brussels on March 3, said Irakli Kobakhidze, chairman of the ruling Georgian Dream party.
The move follows Ukraine's application for fast-track membership. Both countries had previously been seen as outside candidates because of Russian occupation of part of their territory, but following the Russian invasion of Ukraine the issue of that country's membership is being seriously considered by the EU. Several EU member states from Central and Eastern Europe
have backed fast-track membership for Ukraine, though Western European members are more cautious.
Kobakhidze said at a briefing at the party's central office that the ruling team made the decision "taking into account the overall political context and the new reality" based on consultations with the party's political council and Prime Minister Irakli Garibashvili.
“Our dream and the political goal is for Georgia to become an economically strong and secure European country. Every step of our government, including our decision today, serves this purpose,” he said. Kobakhidze noted that the Georgian government is already preparing an application and called on "EU structures to consider our application in an emergency mode and make a decision on granting Georgia the status of an EU candidate".
Emphasising the "impressive achievements" of the current government on
the path to EU integration, as well as the steps taken in the field of economy and security, the leader of the ruling party said that this is the path that will lead the country to overcome poverty and de-occupation. “Each step of the Georgian Dream authorities will be permeated with this goal and responsibility to our country and population,” said Irakli Kobakhidze at the end of his speech.
Curiously enough, it was Kobakhidze who said Georgia won't apply to EU membership until 2024 on March 1: "A hasty initiative could be counterproductive because we have to satisfy certain terms over the [next] two years," he said.
On March 2 the European Parliament backed EU membership for Ukraine.
EU President Ursula von der Leyen has said that Ukraine belonged to the “European family” and shared EU values and that the country “belonged in the EU” but stopped short of saying the country would be admitted any time soon.
Countries willing to join the bloc usually face a long and complicated process, often involving major reforms that must be implemented to achieve EU standards.
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