Zurich The meeting between US President Joe Biden and Saudi Crown Prince Mohammed bin Salman had not yet begun when it was already clear: the signs are difficult. Because on Friday it became known that the Saudi kingdom is importing oil from Russia on a large scale. According to Reuters news agency, citing Refinitiv data, 647,000 tons of oil reached the Kingdom through Russian and Estonian ports from April to June. In the same period last year, the amount was 320,000 tons.
Saudi Arabia is itself the second largest oil producer after the US and the world’s largest oil exporter. No country in the world can promote at a lower cost. Still, it makes economic sense for the Saudis to import oil. The imported oil is used domestically in summer to generate electricity – especially for the operation of countless air conditioning systems.
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