June 06, 2022

A Most Important Import


A Most Important Import
A royal agreement from the Arabian kingdom. Wikimedia commons Suresh Babunair

Saudi Arabia has agreed to increase their production of oil if Russian oil production sees a dramatic decline due to sanctions.

The White House has been pressuring Saudi Arabia to increase its oil production since the beginning of the war, but the kingdom has so far resisted. Global oil prices have increased to $120 a barrel; for reference, on February 22, 2022, just before the conflict began, oil cost a little over $93.

Prior to the invasion of Ukraine, Russia produced 10 percent of the world's oil. Now the OPEC nations have agreed to increase their oil production by 50% during July and August, which could wean the world off Russian oil even more in coming months.

With the European Union adopting another sanctions package that includes a ban on the import of non-pipeline oil from Russia, it is eager to find other major sources of oil. Sanctions to date have certainly affected the Russian oil sector, but until there was some measure of a worldwide shortage, Saudi Arabia had no plans of increasing its production.

 

You Might Also Like

The Middle East Crisis and Our New Novel
  • October 01, 2013

The Middle East Crisis and Our New Novel

This editorial, by author (of The Pet Hawk of the House of Abbas) Dmitry Chen, appeared last month on Bloomberg.com, and considers how the current crisis in Syria has its roots 13 centuries ago.
Help the Earth and Fight Putin
  • April 18, 2022

Help the Earth and Fight Putin

German Vice-Chancellor Robert Habeck urges Germans to reduce energy usage to help wean the country off of Russian oil.
Like this post? Get a weekly email digest + member-only deals

Some of our Books

Driving Down Russia's Spine
June 01, 2016

Driving Down Russia's Spine

The story of the epic Spine of Russia trip, intertwining fascinating subject profiles with digressions into historical and cultural themes relevant to understanding modern Russia. 

Jews in Service to the Tsar
October 09, 2011

Jews in Service to the Tsar

Benjamin Disraeli advised, “Read no history: nothing but biography, for that is life without theory.” With Jews in Service to the Tsar, Lev Berdnikov offers us 28 biographies spanning five centuries of Russian Jewish history, and each portrait opens a new window onto the history of Eastern Europe’s Jews, illuminating dark corners and challenging widely-held conceptions about the role of Jews in Russian history.

The Moscow Eccentric
December 01, 2016

The Moscow Eccentric

Advance reviewers are calling this new translation "a coup" and "a remarkable achievement." This rediscovered gem of a novel by one of Russia's finest writers explores some of the thorniest issues of the early twentieth century.

A Taste of Chekhov
December 24, 2022

A Taste of Chekhov

This compact volume is an introduction to the works of Chekhov the master storyteller, via nine stories spanning the last twenty years of his life.

The Pet Hawk of the House of Abbas
October 01, 2013

The Pet Hawk of the House of Abbas

This exciting new trilogy by a Russian author – who has been compared to Orhan Pamuk and Umberto Eco – vividly recreates a lost world, yet its passions and characters are entirely relevant to the present day. Full of mystery, memorable characters, and non-stop adventure, The Pet Hawk of the House of Abbas is a must read for lovers of historical fiction and international thrillers.

 
How Russia Got That Way
September 20, 2025

How Russia Got That Way

A fast-paced crash course in Russian history, from Norsemen to Navalny, that explores the ways the Kremlin uses history to achieve its ends.

Moscow and Muscovites
November 26, 2013

Moscow and Muscovites

Vladimir Gilyarovsky's classic portrait of the Russian capital is one of Russians’ most beloved books. Yet it has never before been translated into English. Until now! It is a spectactular verbal pastiche: conversation, from gutter gibberish to the drawing room; oratory, from illiterates to aristocrats; prose, from boilerplate to Tolstoy; poetry, from earthy humor to Pushkin. 

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955