Russia and Turkey are at loggerheads as Moscow escalates military engagement in Syria. Turkey’s President Erdogan has threatened to find another gas supplier after Russian jets breached its air space, and Ankara has initiated legal action against Gazprom over the price charged for piped gas…..For the last 3 years, I have argued that Vladimir Putin’s strategic goal was to see the Sunni monarchies of the ME toppled, thereby crude oil prices at USD200 a barrel and a controlled market for Russia’s only real source of income.
Here is Iain Little's Fund Manager's Diary.
Did he really say crude oil at $200? Yes, it is not a typo.
Only a few years ago people feared that this was all but inevitable, in the mistaken belief that we were running out of crude oil. Today, thanks to technology it sounds more like Mr Putin’s pipe dream. Nevertheless, the Middle East is the least stable region of the global. Given all its wealth and oil, shock waves from this deeply troubled region can be far reaching.Back to top