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The modern world order is moving toward multipolarity, so many countries have a claim to be a pole of power and influence in the international arena. These days, the rapidly developing countries in East Asia and the Middle East are quite actively showing their ambitions. One such country is the United Arab Emirates. The UAE, thanks to its resources and active development of some industries, is already making an impact on the world community. The country's foreign policy is undergoing changes related to both the international situation and the increase in its capabilities.
Since the overthrow of the government in 2011, Libya has been divided. Tripoli and the West sought to control the eastern part of the country, a fiefdom of the “Libyan National Army” (LNA) led by Field Marshal Khalifa Haftar. Subsequently, dual power prevailed and the country ceased to function as a single State.
The reality is that the present military operation in Ukraine, in due time, will be relegated to little more than a footnote in global history, yet the total financial war which has repercussed onto Russia will be key in defining the upcoming new world order. In fact, we may have already witnessed the moment economic history changed tracks: On 26 February, the collective West seized all the foreign exchange reserves of the Central Bank of Russia that were held in the West.
In the first half of May, American companies bought five million barrels of "Urals" oil - a volume comparable to the cumulative oil exports from Russia to the United States from January to April 2019.
You can not have a leading role in Libya, without going through Russia. This is one of the few certainties that occur in the chaos that pervades the North African country.
Oil prices saw a strong rally on Friday as the fate of the Iran nuclear deal, and its possible impact on global oil supply, overshadowed a rising U.S. oil rig count.
Oil prices seesawed over the past few days, but look poised to close out the week flat compared to last week.
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