Is Russia Pushing Saudi Arabia Out Of Asia?

Chinese industrial conglomerate CEFC has agreed to buy 14.16 percent in Russia’s Rosneft for approximately US$9 billion. The deal was no surprise as it came on the heels of a Rosneft announcement regarding the sealing of a strategic partnership deal with CEFC, but it is clearly indicative of a continuing warming between Moscow and Beijing that has given the former the upper hand in a race for market share with Saudi Arabia. True, the Kingdom and Russia have been forging closer ties in recent months, thrown together by the persistent depression…

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