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

Steppe
July 15, 2022

Steppe

This is the work that made Chekhov, launching his career as a writer and playwright of national and international renown. Retranslated and updated, this new bilingual edition is a super way to improve your Russian.

Life Stories
September 01, 2009

Life Stories

The Life Stories collection is a nice introduction to contemporary Russian fiction: many of the 19 authors featured here have won major Russian literary prizes and/or become bestsellers. These are life-affirming stories of love, family, hope, rebirth, mystery and imagination, masterfully translated by some of the best Russian-English translators working today. The selections reassert the power of Russian literature to affect readers of all cultures in profound and lasting ways. Best of all, 100% of the profits from the sale of this book are going to benefit Russian hospice—not-for-profit care for fellow human beings who are nearing the end of their own life stories.

Russian Rules
November 16, 2011

Russian Rules

From the shores of the White Sea to Moscow and the Northern Caucasus, Russian Rules is a high-speed thriller based on actual events, terrifying possibilities, and some really stupid decisions.

Survival Russian
February 01, 2009

Survival Russian

Survival Russian is an intensely practical guide to conversational, colloquial and culture-rich Russian. It uses humor, current events and thematically-driven essays to deepen readers’ understanding of Russian language and culture. This enlarged Second Edition of Survival Russian includes over 90 essays and illuminates over 2000 invaluable Russian phrases and words.

Murder at the Dacha
July 01, 2013

Murder at the Dacha

Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.

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.

 
Fearful Majesty
July 01, 2014

Fearful Majesty

This acclaimed biography of one of Russia’s most important and tyrannical rulers is not only a rich, readable biography, it is also surprisingly timely, revealing how many of the issues Russia faces today have their roots in Ivan’s reign.

About Us

Russian Life is the 31-year-old publication of an award-winning publishing house that also creates books, 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