Putin's Middle East trip aims to boost flagging OPEC+ credibility, Russian power-broking

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Russian oil exports


Putin will find a ready audience among Middle Eastern and other countries inclined to be skeptical of US foreign policy and sanctions, including the latest innovation: a price cap on Russian oil exports. "The Saudis and the Emiratis hate the price cap... because of what it represents -- a demand-side intervention in the market," said Tobias Borck, a senior research fellow for Middle East Security Studies at the UK's Royal United Services Institute.