Russia faces the risk of being deprived of the funds needed to operate its war economy if Saudi Arabia realizes its plans to increase its oil production and protect its position as the world's largest oil exporter, writes the American newspaper Politico.
The Wall Street Journal reported earlier that Riyadh is frustrated by the failure of other producing countries to coordinate supply cuts to raise oil prices to about $100 a barrel, compared to the current price of $70.
Oil traders say Saudi Arabia is now preparing to export more oil to capture market share and boost profits, even as prices fall.
This strategy will lead to the collapse of oil prices, which is "bad news" for Russian President Vladimir Putin, whose country relies mainly on oil and gas to finance its budget.