International Politics ///

Oil, foreign policy and handguns in Moscow. Expectations about a possible Middle Eastern war are preoccupying the Russian oil and gas market. This is not unreasonable. After all, Russian oil companies have been deeply involved in the UN’s oil-for-food program in Iraq. They account for at least 35% of Iraqi oil exports. Iraq’s $7-billion debt to Russia, is a large piece of cake that many “mice” are looking for in Moscow. Still, despite all the talk about Russian inroads into the U.S. oil market, Moscow’s mood remains gloomy.

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