Opinion: Mohammed bin Salman: Portrait of a Ruthless Crown Prince, By Osmund Agbo
It’s true that power corrupts but the good news is that even absolute power doesn’t lasts forever. The oil price war with Russia might have turned out to be his Achilles heel. The needless war is starting to hit the American oil industry pretty hard and with Trump’s re-election on the horizon, the president is feeling the pressure already.
Although Russia is a big part of the problem for refusing to cut production down in the face of dwindling global demand, Saudi Arabia overreacted by flooding the market completely. This resulted in a free fall in the oil price, placing a choke hold on wholly oil dependent economies like Nigeria. Unlike many other OPEC countries, Saudi Arabia, with a foreign reserve that stands at a whooping $490 billion could afford such a luxury. At least on the short term.
No one was more sold on MBS’s charm offensive than the US president. Although it had been alleged that Mr. Trump has his own personal interest to protect, which was why he ditched the regular diplomatic channel through the U.S. State Department and instead favoured to stick with his son-in-law, Jared Kushner. The prince had a direct line to the White House and Trump was ever ready to overlook all of his sins.
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