FT learned about the role of Saudi Prince in the collapse of the talks in Doha

Deputy crown Prince and favorite son of king Salman Mohammed bin Salman, who oversees the Saudi economy, at three o’clock on Sunday morning, April 17, called the delegation of the Kingdom on the Doha negotiations and demanded that she return home, according to Financial Times, citing informed sources. In the end, the Saudis still remained, but the negotiations failed, the newspaper notes.

According to the information FT, the delegates from other countries on Sunday morning we were sure that the Minister of oil of Saudi Arabia Ali al-Naimi verifies the consent of the world’s leading exporter of oil to freeze its production. But on Monday, the oil Minister of Venezuela, Eulogio del Pino, a former initiator of the idea about the freezing, said that he had the impression that the Saudi delegation “did not have any authority.”

The publication knows that the Saudis were involved in the drafting of the initial draft agreement that was presented to the participants. Senior representatives of OPEC, told journalists that the participation of Saudi Arabia in the negotiations does not depend on the position of Iran, which refused to join the initiative to limit the supply of oil.

“Almost all had the feeling that the deal will be concluded within the hour,” said FT. The publication notes that even Saudi ally Kuwait said on Sunday morning that “with optimism” looks at the conclusion of the transaction. However, the Saudi delegation was to insist that I agree to freeze only with the participation of Iran and eight p.m., the negotiations were terminated without achieving any result.

30-year-old Mohammed bin Salman was appointed Deputy crown Prince is the third in the Kingdom in April last year, when his father became king. He is the second Deputy Prime Minister, Minister of defense and head of the Royal court, and also chairs the Council on economic issues. In these positions, he commands the fighting Saudi army against rebels in neighboring Yemen and is engaged in planning for the transition of Saudi Arabia to a post-oil economy, writes the FT.

The publication stresses that after coming to power of Prince Mohammed policy of the Kingdom in the energy sector has become less dependent on raw material prices than geopolitics, especially the regional rivalry with Iran. FT with reference to oil of analysts say that oil became Saudi Arabia’s weapon in the rivalry with Iran, which wants to restore its prey to desanctions level and to regain lost markets.

“I understand that it was pure politics,” said the FT, one of the negotiators, representing the countries of the Persian Gulf, noting on Saturday the Saudis were to all agree, and on Sunday they changed to the opposite. One delegate noted that the worst is that not included in OPEC countries became embroiled in a showdown within the cartel and do not want again to participate in such meetings.

Amid expectations balancing demand and supply in the oil market participants fear that Prince Mohammed will be the policy of the Kingdom by the preservation of its market share to a new level, writes the FT. According to Petromatrix analyst Olivier Jakob, “one of the main outcomes of the meeting in Doha is that the Saudi regime has become completely unpredictable.”

The head of the Russian Ministry of energy Alexander Novak said the position of Saudi Arabia unfounded given the fact that Iran was not present in Doha, but the talks, he said, were intended to lock an already agreed upon transaction and not for discussion. Previously, he stated that the new requirements to the agreement put forward not only Saudi Arabia, but also UAE, Kuwait and Qatar, “conditionally Gulf countries”.

American business newspaper The Wall Street Journal underlines that Saudi Arabia has offered no explanation for the sudden toughening its stance during the negotiations. The publication notes that the meeting in Doha took place a few days before the visit to the Kingdom of President Barack Obama, who on Wednesday expected to meet with king Salman.

WSJ recalls that Saudi Arabia is trying to get US new assurance that they will not abandon their Arab allies in favor of Iran, and Obama for its part wants Riyadh and Tehran have reduced the degree of opposition to reduce tensions n the middle East.

Press Secretary of the us President Josh Ernest on Monday refused to comment on the position of Saudi Arabia in the Doha negotiations, describing them as “the efforts of oil producers to coordinate their activities to enhance their economic status.”

“We certainly are aware of the fact that it has an impact on the U.S. economy,” said Ernest, adding that the White house would prefer the current dynamics of low oil prices the impact of high prices.