Blood and oil are similar organic fluids. Blood circulation moves people, oil circulation societies.
During the corona crisis, the oil price crisis has reduced its flow. Blood flow has also declined slightly, at least for the time being, following the ceasefires in many wars.
The war games of the great powers went new.
Russia is suffering badly from its own interest rate crisis and falling oil prices. It reduces Vladimir Putin’s enthusiasm for the wars in Syria, and encourages Russia to maintain a ceasefire in the north of the country. Syrian leader Bashar al-Assad would like to put an end to the last insurgents in the Idlib region, but Russia is alleged to have restrained him. Another reason may be that Moscow is horrified at how the decisive massacre of the war would also damage its international reputation.
Russia is also at war informally in Ukraine. Its mercenaries are in operation e.g. Libya. Mercenaries may have financiers outside their home country. It is a relief for Russia's tough war coffers.
Saudi Arabia is more dependent on oil revenues than Russia. They have guaranteed the standard of living of the people and that the sovereignty of the Saudi family is not being questioned too much.
A couple of days ago, Saudi Arabia announced that it would raise VAT and cut housing subsidies for citizens. The confidence of many can be shaken.
Crown Prince Muhammad bin Salman, who leads the country in practice, whose ambitious plans are proving to be sand castles. These included reforming the country’s economy so that it was not just dependent on oil.
Last year, Saudi Arabia listed Saudi Aramco, the world’s largest oil company, and a small portion of its shares were sold. This was to fund reforms.
The Prince's combined projects also include the acquisition of the Premier League club Newcastle. There could be even better use for Saudi money now.
A few years ago, the Crown Prince took his southern neighbor to the civil war in Yemen. It has proven harder than imagined to win. If the Saudis withdraw, their escalated war will continue between the local parties. Fighting can spread across borders.
Under the strangle of the United States
The fall in oil prices is also penalizing large producers in Iran and Venezuela, which are embargoed by the United States. The blockade has been accused of being cruel in these circumstances. Iran is one of the countries badly affected by the corona pandemic. It is difficult to get treatments and medicines.
Venezuela’s health care had already collapsed when the pandemic reached South America.
The crises of the world are intertwined. In Yemen, Iran supports a different side from Saudi Arabia and the countries are enemies. Russian mercenaries have been spotted protecting Venezuelan leader Nicolás Maduro, whom the United States wants to capture.
Saudi Arabia and Russia have waged an oil price war. A small consolation for both in the fall in oil prices is that it is driving U.S. shale oil producers out of the industry. The production costs of shale oil are more expensive than with traditional oil sources.
According to some perceptions, the economic downturn caused by a pandemic will take years and push down the price of oil. Others believe that the economy can start to rise as early as autumn in favorable conditions. That would pop up the price of oil to a different level.
Then the board of the great game of states would go new again. Oil and blood never stop flowing.