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looking beyond borders

foreign policy and global economy

Iran Now Has The Edge In The Fight Over Oil Prices With Saudi Arabia

The contrast between the two countries is stark. Iran, never as dependent on oil revenue as its neighbor, has seen prospects boosted by rapprochement with the west. In Saudi Arabia, tentative moves toward economic reform haven’t prevented two years of weak prices causing financial havoc: it’s burning through foreign exchange reserves, government contractors have gone unpaid and civil servants will get no bonus this year.

Read Here – Bloomberg

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