OIl prices have tanked, which is bad for the Russian economy. But who is this a defeat for? Russia is going to sell its gas; they simply cut their antagonists out of the picture. Meanwhile, in their war over Syria, they just cut off their enemy’s objective: Saudi Arabia just lost its reason to overthrow Bashir. The big loser is Western Europe.
A big gas hub in Southwest Turkey would short-circuit the Saudi pipeline, and it seems to be already in the works.
Putin Kills “South Stream” Pipeline, Will Build New Massive Pipeline To Turkey Instead
http://www.zerohedge.com/news/2014-12-01/putin-kills-south-stream-pipeline-will-build-new-massive-pipeline-turkey-instead
Sounds like a major expansion of the “Blue Stream” pipeline is coming, and also THIS:
TURKEY, RUSSIA AGREE TO USE LOCAL CURRENCIES IN TRADE: TRT
So much for that “Isolating Russia” thingy...
When your currency is at it’s lowest point ever, I think it’s a tough sell saying you just caused another region financial problems.
He needs the oil sales. He’s in trouble.