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Saudi Arabia, the United Arab Emirates and Qatar have dashed Europe’s hopes of providing an alternative to Russian hydrocarbons amid the Ukraine crisis, after confirming that they would not be taking sides in the conflict.
The Gulf’s three major oil and gas exporters recently reiterated their neutral stance, and signalled that they will not be boosting production or diverting cargoes - despite the European Union’s urgent need to wean itself off Russian energy supplies as tensions mount.
Repeated lobbying by the United States and France has failed to sway Saudi Arabia
I am concerned about Russia’s willingness to cut natural gas supply to Europe in retaliation for international sanctions
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