Introduction
There have been many economic and financial restrictions on Russia since it invaded Ukraine in February 2022. These restrictions come from the US, EU, and other Western partners. These strange measures are meant to hurt Russia’s economy and make it harder for it to pay for its war machine. They are trying to stop an aggressive war that most countries believe is illegal. The sanctions make it harder for Russian banks and companies to access international capital markets. It’s also illegal for any important products to leave the country. There are also restrictions on the Russian central bank’s assets outside Russia. They also go after the billionaires who like and back Putin’s government. They want to keep Russia from getting money to pay for its military, fill the economy with bad debt, and put pressure on Putin to stop fighting Ukraine. Some clever methods exist for Russia to avoid these international restrictions, though. For example, it has close diplomatic ties and business relationships with Iran, the UAE, and Saudi Arabia. These three countries must help Russia deal with the penalties the West has placed. This essay will discuss how Russia uses its connections with the UAE, Saudi Arabia, and Iran to keep trade going, get into banking systems, work together on energy markets, and create new payment systems to get around the sanctions. Although the sanctions have hurt Russia’s economy, it has shown that it can get around them by working with these three countries. Since this happened, will the current system of fines last?
Relations with the UAE
The United Arab Emirates (UAE) has emerged as a key location for Russian assets to evade Western economic sanctions imposed in response to Russia’s invasion of Ukraine. By not following the lead of the US and Europe and imposing sanctions, the UAE made it possible for Russia to keep dealing and making important money from exports. The trade between Russia and the UAE has grown by leaps and bounds since this strategy was implemented. It has given Moscow an important new market to make up for less trade with Europe. Statistics show that Russia sent $3.8 billion worth of goods to the UAE in October 2022 alone, which is a huge 36% rise from the previous year. Total trade between Russia and the UAE hit $5.5 billion in the first half of 2022 (How Dubai Became “the New Geneva” for Russian Oil Trade | Financial Times, n.d.). This shows how much stronger economic ties have become between the two countries since sanctions were implemented. Key Russian goods like oil, natural gas, steel, and valuable metals are among these quickly rising exports. For the Kremlin, this trade brings in much-needed tax money for the government when the Russian economy is struggling because of financial sanctions.
Because of sanctions, it is very hard to sell goods in Europe. As a result, the UAE has become the most important market for exports that would usually go to the EU. This alternative market has saved Russia’s economy, which has helped it dodge some of the worst effects of isolation and keep important trade flowing (International Trade Administration, 2022). The UAE’s decision not to join Western sanctions has been very helpful for Russia because it has given them an economic route that has helped them deal with the loss of ties with Europe. The growing trade between Russia and the UAE shows how important the UAE has become in helping Russia’s economy deal with tough sanctions.
Russia continues to ship despite sanctions in large part because of its heavy reliance on the UAE as a re-export center. Russian commodities are frequently exported to the massive free trade zones in the United Arab Emirates, mostly to Dubai (War Sets Back the Global Recovery, n.d.). These zones are where metal and energy exports happen. These zones are utilized to hide various Russian items, such as oil, LNG, steel, and aluminum. It is misleading to claim that the products are from the UAE if they are repackaged, and new invoices and certificates of origin are issued in the UAE. By all reports, the goods are sent worldwide with a label that says they come from the UAE. However, their real home country is Russia, which is hidden legally (Sim & Fulton, 2020). Moscow has a complicated system for hiding its exports, which involves rerouting packages worldwide to get around the sanctions meant to target Russian goods.
The West is trying to track these earnings so they can take assets, but this secret re-export network through the UAE keeps the billions of dollars that Russia makes from exports moving without being seen. The size of this trade-based money laundering scheme shows how much Russia depends on the UAE to stay out of trouble with sanctions. Though it is economically cut off, Moscow can keep making a lot of money from exports because it can hide where its goods come from. This shows how important the UAE is to Russia’s economy. In addition to making trade easier, the United Arab Emirates ensures that Russian banking elites, billionaires, and elites can continue using the global banking system. This keeps them safe from Western sanctions.
Dubai and other financial centers in the UAE are home to substantial branches of some of the biggest Russian state-owned banks, such as Sberbank, Alfa-Bank, and VTB. Dubai has emerged as the safest haven for the affluent Russians whose properties, boats, and jets have been hit hard by sanctions. It is simpler for Russian money to keep traveling worldwide despite the financial penalties because of shell firms owned by oligarchs in the UAE (Patrick, 2022). Another company that competes with SWIFT is SPFS, which is based in Russia. The company is quickly expanding its world headquarters in the UAE. This technology is used instead of SWIFT when working with money because Russian banks are prohibited from using it. With help from the UAE, SPFS can keep doing business worldwide. The United Arab Emirates serves as an additional gateway for Russia’s illicit monies and assets to enter international financial institutions. For the sake of its economy, Moscow depends on this access. Even though the West has imposed harsh sanctions on Russia, the nation has kept its connections to the global banking system and has used the UAE to transfer money (Sim & Fulton, 2020). Dubai is vital to Russia’s international trade and commodities because of its strategic location and the present sanctions. Due to its strategic position at the intersection of numerous important trade routes, Dubai is an important physical hub that assists the Russian economy in competing globally. Modern amenities, like the world-renowned Jebel Ali port, are conveniently located in the middle of Dubai. Building such a massive port is evidence of Dubai’s resolve to entice international commerce and investment (Clarity on Commodities Trading, n.d.). Because of its vast logistical network and advanced infrastructure, it is an important transit center for Russian goods. Sales of Russian commodities have persisted despite the sanctions. The consistent reliability of product delivery in Dubai is largely responsible for this.
Regarding Russian oil, gas, and other essential commodities, the United Arab Emirates has ignored Western shipping and insurance restrictions. This component of the formula is essential. After the UAE disregards these regulations, Dubai can now facilitate exporting Russian exports to other nations. Dubai has played a significant role in the supply chain due to its prominent position in global politics. The practical significance of Russian commodities means that they are still marketed to companies all across the globe. Through its free trade zones, Dubai has assumed an even more pivotal role in Russia’s efforts to evade sanctions. International trade is made easier by standardizing company procedures in these zones. One inducement they offer is tax rebates, and they also want to make customs easier. Russian goods can easily sneak through Dubai’s free trade zones unnoticed. Russia can sidestep the complex web of sanctions by executing this seemingly insignificant operation. Its interactions with companies from other nations are mostly mundane.
Ultimately, Dubai is the ideal port of entry for Russian goods heading for global markets. Russia intends to utilize Dubai as a springboard to evade sanctions. Despite the sanctions, Russian commodities might still satisfy global market demands, thanks to Dubai’s advanced infrastructure, accommodating regulations, and diplomatic attitude (Barisitz & Evdokimova, 2023). The fact that sanctions allow Russia to export goods is crucial for Russia’s economic recovery, even though Dubai’s trade with Europe is very small compared to Russia’s trade before the sanctions. Western regulations severely limit the business and financial spheres. The Russian economy is optimistic despite its isolation from traditional global markets, thanks to the policies of the UAE and Dubai’s fortunate position.
The United Arab Emirates is siding with Moscow due to its behavior, particularly its refusal to adhere to Western maritime restrictions and safeguard Russian cargo. This deviation from the world consensus has given Russia a fresh opportunity to sustain its economy. Russian businesses are feeling the pinch of Western trade and banking restrictions. Right now, any opportunity to enter international markets through networks like Dubai’s is crucial. Some examples of Dubai’s state-of-the-art infrastructure that facilitates the export of Russian goods are the massive Jebel Ali port and the efficiently managed logistics network. Even while trade with Europe via the city-state is smaller than it used to be, Russia’s economy can manage stress owing to Dubai. Moscow can circumvent some of the consequences of UN sanctions thanks to the UAE, which, according to its policies and stances, has provided an alternate route for Russian commodities to reach destinations worldwide.
Dubai’s role is more important than ever in the big picture of Russia’s economic isolation. It is important to lessen the severity of the punishments, even if the donation is seen as a partial release valve. Russian companies are looking for ways to get around the strict rules of global trade and avoid being sanctioned (Jones, 2023). This is why Russia puts even more value on Dubai’s infrastructure and the UAE’s policies, making it easy for people to visit. As a practical matter, Dubai’s support for Russian exports lets Moscow keep some business ties with the rest of the world, even though there are limits.
Relations with Saudi Arabia
In recent years, growing ties between the two countries have demonstrated that Russia and Saudi Arabia’s strategic collaboration extends beyond their shared status as major oil producers within the OPEC+ alliance (Bradshaw et al., 2019). Their energy-related economic goals have been aided by the cooperation primarily initiated by President Vladimir Putin and Saudi Arabia’s King Salman and later Crown Prince Mohammed bin Salman. The cooperation has also manifested itself in arms sales, investment deals, and improved diplomatic coordination, among other things.
Their joint activity in OPEC+, where they both have a significant voice in determining global oil production restrictions and pricing, is the core of their alliance. Russia and Saudi Arabia have forged an advantageous economic partnership through their joint management of the oil markets (Bradshaw et al., 2019). The two nations are better equipped to respond to shifts in the energy market thanks to the increased influence they have gained through their cooperation, stabilizing oil prices. Russia and Saudi Arabia’s ties have grown beyond only oil through military and defense cooperation. Modern weapons are now sourced from Russia by Saudi Arabia. Military hardware, such as fighter jets and anti-aircraft missiles, is part of multibillion-dollar deals. The strategic reliance that arises from diversifying their means of working together fortifies their defense and their alliance.
The two countries’ economic links have also grown stronger. Saudi Arabia actively participates in Russian energy projects as part of its economic plan to diversify its portfolio (Dannreuther, 2021). The Russian government is a target for investment in the Kingdom’s infrastructure and technologies. So, it’s a positive indicator that the two countries are willing to work together to improve their economies through mutual learning. Diplomatically, the partnership has also grown. More high-level talks and diplomatic encounters have occurred due to a shared understanding of global and regional challenges (Dannreuther, 2021). They are working together to solve regional problems because they have similar strategic goals. This is making the relationship between Moscow and Riyadh stronger.
Russia and Saudi Arabia’s relationship is dynamic and unpredictable. Energy is just one component of this close connection. Other fields are also a part of it, including investments, defense, and politics. Although OPEC+ and its joint dominance of global oil markets form the basis of their cooperation, their strategic alignment extends beyond that. This highlights the need to be able to work together to address global issues and seize opportunities if we want to live in a better world in the future (Connelly, 2023). Russia and Saudi Arabia have a tight political partnership on the international stage. This is also true regarding regional problems like Syria and matters about the UN. Russia has more sway and power in the Middle East than the US because of all the philosophical disagreements between the two nations. The political climate in the region is changed by this alliance, which challenges Western dominance. Collaborating towards a shared goal strengthens both countries’ strategic advantage and global impact.
This political agreement has also helped Russia lessen the blow of Western sanctions. Regardless of geopolitical conflicts like the one in Ukraine, Russia and Saudi Arabia have kept their diplomatic relations. Partially because of the economic ties between OPEC and other countries, Saudi Arabia has steadfastly rejected international criticism (Connelly, 2023). Therefore, sanctions and global isolation will not negatively impact Russia. Russian and Saudi ties are strengthening but are complicated and could go in many different directions. Their contrasting responses to regional problems are evident in several cases, including Syria, Yemen, and Iran. They haven’t always been able to put their differences aside and work together to solve the crises in Yemen and Syria. The two countries’ perspectives on Iran couldn’t be more divergent. Russia seeks to maintain relations with Iran, while Saudi Arabia views it as a formidable adversary. This demonstrates the intricacy of their relationship.
They also have different oil supply strategies, even though they work together in OPEC+. This was especially true during the COVID-19 pandemic in 2020. Different points of view were expressed during the production cuts negotiations before a compromise deal was made. This shows how difficult it is to align economic interests within the OPEC+ framework. The future of the connection between Russia and Saudi Arabia could be affected by changes in the market and shifting economic interests (Connelly, 2023). The union has been through many tough times, but ongoing disagreements and outside factors may bring about new problems that could change how they work together in the future (Parker & Lynch, 2021). Still, the current depth and breadth of their cooperation show how strategically important their relationship is to each other and how their work together on the world stage is beneficial.
Politics at home and leadership changes could also hurt links. The fact that Putin and MBS are good friends has been very important. It’s possible that a future Saudi king will not put as much importance on ties with Moscow. Russia also keeps in touch with other Gulf countries, which makes it less reliant on Saudi Arabia. Geopolitics is important to international relations because it shapes alliances and agreements (Krane, 2019). Russia is still at odds with the West, so working with Saudi Arabia against U.S. goals is still a good idea from a strategic point of view. But how this partnership works will depend on how tense things stay between Russia and the West (Parker & Lynch, 2021). If these issues disappear, the reasons for continuing to work together might change in big ways. It’s important to note that Saudi Arabia values its partnership with the US, especially when working together on security issues.
One important part of this strategic maneuvering is Saudi Arabia’s diplomatic response to Russia’s invasion of Ukraine. Saudi Arabia hasn’t said anything bad about Russia’s acts and hasn’t joined the West in trying to put sanctions in place. This unwillingness is in line with Russia’s goals, and Moscow is working hard to strengthen ties with Saudi Arabia after the war. One important part of this relationship is Russia’s ability to keep Saudi Arabia from producing much more oil, which could hurt Russian exports and cause oil prices to drop worldwide. Reports say that both countries want to make their relationships even stronger. Saudi Arabia’s willingness to accept the Russian Ruble as payment for oil is a big deal that could help Russia’s currency. Russia has also tried to get Saudi Arabia to buy its weapons and spend a lot of money on its projects. One example is the $10 billion deal Saudi Arabia made with Russia in 2022 to invest in Russian energy and technology projects. The possible sale of the S-400 missile defense system to Saudi Arabia is another way their business ties are growing.
These business ties help Russia find new ways to trade and work together on energy issues, which can help lessen the effects of Western sanctions. But it’s important to know what this relationship can’t do. Saudi Arabia is a close U.S. ally, so it’s not likely that it will go against Western goals to help Russia. Even though Russia asked the Saudis to help settle the conflict in Ukraine, they turned it down. However, Russia still benefits from limited cooperation because it weakens the effects of sanctions. Things are changing between Russia and Saudi Arabia due to a careful mix of geopolitical concerns, economic interests, and strategic maneuvering. The level of cooperation that continues to grow will likely rely on the bigger picture of geopolitics, the direction of Russia’s relations with the West, and how beneficial both countries see their partnership staying together.
Relations with Iran
Iran has become an important and strategic partner for Russia since it invaded Ukraine. It helps Russia deal with and lessen the effects of the economic penalties put in place by Western countries. Iran has much experience dealing with international sanctions, especially those targeting its economy (Gardner, 2020). This makes it a useful ally for Russia as it seeks ways to get around the new limits. Since Russia and Iran are struggling to cope with economic sanctions, cooperation between the two countries is increasing.
Most importantly, both nations work to wean themselves off Western-dominated networks like SWIFT (Society for Worldwide Interbank Banking Telecommunication) to maintain trade and banking activities. International banking institutions rely on SWIFT, a global messaging network, to convey secure and uniform information on financial transactions. Sanctions are more likely to impact SWIFT-using countries, as Iran learned the hard way (Gardner, 2020). Russia and Iran have been increasing the frequency of their commercial deals in light of this to ensure that no country gets taken unaware (Nikolay Kozhanov, 2020). Since sanctions may prevent or restrict the use of dollars in such transactions, commodities and goods are substituted. Russia and Iran engage in commodity and goods trading in return for oil. Russia relies on oil as its primary energy supply, making it a crucial resource. By engaging in this trade, the two nations can shield their financial transactions from the impact of Western sanctions while maintaining vital commercial connections.
These trades shouldn’t use something other than dollars as payment, so they are not affected by the international financial systems that the West rules. Russia and Iran can get around sanctions by doing business with each other directly or through alternative currencies, going around normal banks, and other things. Because of this, their business ties are stronger. Relations between Russia and Iran are now more than just business (Gardner, 2020). They include a lot of different economic and defense areas. As political allies, both countries want to improve their relationship with each other because they are cut off from the West. This growing relationship includes energy, transportation, banking, and sales of defense goods. It shows that both countries want to strengthen their ties. Russia has helped Iran a lot with its nuclear work, which has made people all over the world even more worried about energy. That is why Russia has offered to give Iran nuclear technology and codes to make Iran’s military stronger (Nikolay Kozhanov, 2020). Iran says that the only goal of its nuclear programs is to make energy for good reasons, but its work with Russia has been closely watched. Because of pressure and penalties from the West, this cooperation shows a strategic alignment that gives both countries the power to fight back against actions taken by other countries that try to stop them from achieving their nuclear goals.
One thing that stands out is the military link between Russia and Iran. Turkey now gets many drones, also called robotic aerial vehicles (UAVs), from Iran. For Russia’s safety, these drones are very important. It was very helpful for Russia to have these UAVs when they attacked Ukraine. Russia and Iran are ready to help each other solve problems in the world when they work together on military issues (Lister, 2023). This makes both countries safer.
Along with banks and public transport, the groups are also on projects together. Both countries can do more business and trade because they work together to improve their transportation networks (Lister, 2023). The banking sector needs to work together better so that Western bans don’t affect financial systems as much. Both countries can do more business because of this.
Things between Turkey and Iran are difficult, which shows that they want many of the same things. The strategic relationship talks about important things for both countries’ safety and growth. They are so eager to help and work together that they are willing to trade military gear, work on banking and building projects, and share what they know about nuclear technology. The amount of work they do together shows how world events are moving. Russia and Iran are both trying to deal with the fact that they are politically alone. The goal is for these nations to be less affected by Western bans and free from outside pressure by working together better (Lister, 2023). Russia and Iran are working together on many fronts to meet their military and economic goals quickly. The other thing they want to do is change politics in a way that helps them by making strategic partnerships.
Iran’s SEPAM network and Russia’s SPFS (System for Transfer of Financial Messages) have examined how their financial message networks could work together. This is a step towards a bigger goal of making the world less reliant on financial institutions based in the West and more connected worldwide (Braun & Koddenbrock, 2022). Instead of the well-known SWIFT (Society for Worldwide Interbank Financial Telecommunication) method, this project will let banks send money to each other. Even though the US and EU have imposed sanctions on each other, the two countries want to keep their financial ties open by setting up a direct contact line. They will be able to do business without SWIFT now. Russia and Iran are working together on financial message services to try to get around the harsh sanctions put in place by the West. Russia’s economy is having a hard time because of sanctions. People are working together to find ways around these limits, and Iran plays a big part. Iranians know how to deal with and lessen the effects of tough sanctions because they have been through them themselves (Karami, 2022). Because both Russia and Iran have been politically isolated and tense with the West, Russia wants Iran’s help in finding alternatives to traditional banking systems.
Moscow and Tehran’s growing cooperation on economic, trade, and military matters demonstrates their resolve to continue doing business despite Western sanctions (Karami, 2022). As their relationship strengthens, it aids both nations in coping with their present economic woes and positions them to challenge the global dominance of the US currency. Looking at alternatives to widely used financial systems and creating economic linkages that can survive outside pressure, Russia and Iran hope to make US and European sanctions less effective in the long run. Russia and Iran’s military, economy, and finance policies are converging.
This shows that they are working together to strengthen themselves against outside pressures and find their own way in the face of Western sanctions. Working together on financial messaging services is just one part of a larger partnership that aims to change the economic and political landscape in a way that makes standard Western financial institutions less powerful. As this partnership grows, it not only helps both countries under sanctions but also helps change the global economy in a way that challenges long-held rules and structures.
The strategic similarities between Russia and Iran are becoming clearer because of economic sanctions, being cut off from Western systems, and both countries’ general fall in international importance. Moscow and Tehran have strengthened their ties to get around sanctions and set up new banking networks (Russia Copying Iran to Evade Western Sanctions, Report Claims, 2023). This makes them less vulnerable to economic pressure from the West. This is because they are both in a similar position. What makes their collaboration intriguing is that they are developing alternative payment methods incompatible with conventional Western ones. Russia and Iran are exploring new avenues for trade, including using gold, alternative payment systems (such as SPFS, Russia’s new system for transferring financial messages that replaced SWIFT), and their currencies. Both nations are investigating these possibilities to forego the reliance on Western financial institutions for international trade and money transfers (Russia Copying Iran to Evade Western Sanctions, Report Claims, 2023). This is smart for Russia because it allows them to trade with Iran and handle foreign payments without relying on Western financial systems alone.
Russia and Iran work together on more than just money issues. They also work together on security issues. Iran has turned to Russia for military help because it is facing its own set of sanctions and being cut off from the rest of the world. In particular, Iran has given Russia Shahed-136 drones, which Russia has used in its military activities, such as attacks on Ukrainian infrastructure and civilian targets. To get Iran to do the same, Russia has said it is ready to give Iran modern weapons like the S-400 air defense missiles. Both countries can get restrictions on getting Western military technology through this trade, which makes their defenses stronger and their military power greater simultaneously. Because they work together in a complicated way, it helps them deal with the problems that come up because of sanctions and being cut off from the rest of the world. Russian and Iranian leaders want to lessen the effects of Western sanctions on their economies and militaries by working together and sharing their resources and knowledge. This strategic relationship helps with trade and defense immediately. It sets up a way for the two countries to work together in the future, which differs from Western-centered systems.
Since Russia and Iran are getting closer, they are working together on more and more economic, financial, and security issues. The strategic alignment is based on a shared desire to become less reliant on Western systems, avoid penalties, and find new ways to work together on military and economic issues. The partnership between Moscow and Teheran is a strong reaction to outside pressures. It is changing the geopolitical landscape in a way that challenges established norms and increases the power of these two countries on the world stage. The partnership is both necessary and useful. Russia needs Iran’s drones and possible access to its economy, and Iran wants Russia’s military equipment and help. But they can only work together so much. Iran must be careful not to upset Western countries helping Ukraine. Also, Russia and Iran have different goals in the Middle East. Iran wants to increase its power in the area, which sometimes goes against Russia’s plans.
Philosophically, the two countries have always been ideological foes, even though they dislike the West. It is not good for Iran’s Shia clerical government to have links with some Sunni states and a secular authoritarian system. Even though they work together to fight a common threat, they are naturally wary of each other. The war in Ukraine and the sanctions may have made the union between Russia and Iran stronger for now, but because of greater mistrust, it may not last and can change. In short, the alliance is getting stronger because it makes sense, but Russia and Iran have different strategic goals and past philosophical views that make it hard for the alliance to grow. Their agreement is most likely only temporary and could end at any time.
Conclusion
Russia has been able to avoid the worst effects of the international sanctions that were put in place after it invaded Ukraine by strengthening its links with the UAE, Saudi Arabia, and Iran. Russia has devised creative ways to keep trade and money flowing with these three countries by exploiting their geographical benefits, economic ties, and diplomatic alignments. But how long these ways of getting around penalties will work still needs to be clarified. As the West takes more steps to stop people from getting around sanctions, Russia may find it harder to lessen the economic and military effects of being cut off from the rest of the world by having only a few close countries. But for now, these relationships are a lifeline that has made sanctions against Russia less effective.
References
How Dubai became “the new Geneva” for Russian oil trade | Financial Times. (n.d.). Www.ft.com. https://www.ft.com/content/7ac92047-b306-49d0-9811-ddde5c916dd6
War Sets Back the Global Recovery. (n.d.). https://www.imf.org/-/media/Files/Publications/WEO/2022/April/English/text.ashx
Barisitz, S., & Evdokimova, T. (2023). Dedollarization efforts in Russia’s foreign trade against the backdrop of Russia’s war in Ukraine and intensifying Western sanctions (2013-2023). https://www.oenb.at/dam/jcr:3c6f5b53-d6ef-47b6-99a9-423fe7b928fd/02_feei_Q3-23_Dedollarization-efforts.pdf
Bradshaw, M., Van de Graaf, T., & Connolly, R. (2019). Preparing for the new oil order? Saudi Arabia and Russia. Energy Strategy Reviews, 26, 100374. https://doi.org/10.1016/j.esr.2019.100374
Braun, B., & Koddenbrock, K. (2022). Capital Claims: Power and Global Finance. Taylor & Francis.
Connelly, C. (2023). Oil Market Recovery and the Future of OPEC+: Exit the Bear? GCC Hydrocarbon Economies and COVID, 249–282. https://doi.org/10.1007/978-981-19-5462-7_11
Dannreuther, R. (2021). Russia and the Gulf States: Between West and East. Russia’s Relations with the GCC and Iran, 109–131. https://doi.org/10.1007/978-981-33-4730-4_5
Jones, B. F. and R. (2023). U.A.E. Cashes In on Russia’s Economic Woes. WSJ. https://www.wsj.com/world/russia/u-a-e-cashes-in-on-russias-economic-woes-52700157
Karami, J. (2022). Iran-Russia Relations: New Opportunities and Existing Problems. Quaestio Rossica, 10(4). https://doi.org/10.15826/qr.2022.4.727
Krane, J. (2019). Does Saudi Arabia Need OPEC? https://agsiw.org/wp-content/uploads/2019/11/Jim-Krane_Saudi-OPEC_ONLINE-1.pdf
Nikolay Kozhanov. (2020). Iran and Russia: Between Pragmatism and Possibilities of a Strategic Alliance. Contemporary Gulf Studies, 131–156. https://doi.org/10.1007/978-981-15-3924-4_7
Parker, J., & Lynch, T. (2021). Russia and Saudi Arabia: Old Disenchantments, New Challenges. https://ndupress.ndu.edu/Portals/68/Documents/stratperspective/inss/Strategic-Perspectives-35.pdf
Russia Copying Iran to Evade Western Sanctions, Report Claims. (2023, June 6). Voice of America. https://www.voanews.com/a/russia-copying-iran-to-evade-western-sanctions-report-claims/7125028.html
Sim, L.-C., & Fulton, J. (2020). Implications of a regional order in flux: Chinese and Russian relations with the United Arab Emirates. Cambridge Review of International Affairs, 34(4), 551–569. https://doi.org/10.1080/09557571.2020.1800590
Gardner, A. (2020). Sanctions. 241–277. https://doi.org/10.1007/978-3-030-29966-8_7
Patrick, P. K. and M. (2022, February 25). U.S. Sanctions Against VTB and Sberbank Aim to Disrupt Russia’s Economy. Wall Street Journal. https://www.wsj.com/articles/u-s-sanctions-against-vtb-and-sberbank-aim-to-disrupt-russias-economy-11645800587
International Trade Administration. (2022, July 26). United Arab Emirates – Market Overview. Www.trade.gov. https://www.trade.gov/knowledge-product/united-arab-emirates-market-overview
Lister, T. (2023, April 28). The Iranian drones deployed by Russia in Ukraine are powered by stolen Western technology, research reveals. CNN. https://www.cnn.com/2023/04/28/world/iran-drones-russia-ukraine-technology-intl-cmd/index.html
Clarity on Commodities Trading. (n.d.). Retrieved December 23, 2023, from https://assets.kpmg.com/content/dam/kpmg/pdf/2016/06/KPMG-clarity-on-commodities-trading-en.pdf
write