BanglaHunt Desk: Saudi Arabia is facing an economic crisis this time. The Saudi prince is now reaching out to other countries to strengthen the country's economic base. They even have to sell their shares. Due to lack of funds, they had to stop construction work. Their next situation is facing more crisis.
As a result of arrogance, this misfortune of Saudi Arabia has come closer
Not only the corona virus (COVID-19) but also many other things like their arrogance are believed to be causing this. The oil crisis with Russia is also believed to have brought Saudi Arabia closer to the day.
Oil clash with Russia
Prior to the coronavirus infection, Saudi Arabia had proposed that Russia withdraw from oil production. Russia, in the midst of a financial crisis, did not agree to Saudi Arabia's offer. The Saudi prince said at the time that they would weaken Russia by producing more oil than Russia and selling oil at lower prices. Although an agreement was reached between them about a month and a half later, the two countries suffered huge losses as a result of the oil spill.
India can benefit
India imports huge amounts of oil amid clashes between Saudi Arabia and Russia. Due to the corona virus, the demand for oil in India has also decreased a lot. As a result, much less than অনেক 10 per barrel. Although India currently has oil reserves, several major Saudi companies are heading for bankruptcy due to lack of oil reserves.
Saudi Arabia in financial crisis due to oil reserves
Saudi Arabia is also looking to sell some shares worth-30-35 billion as oil prices plummet. So that even if they have some money crisis will go away. About 10 years ago, the UAE planned to make Dubai one of the largest tourist destinations in the world, with huge profits. But due to the outbreak of the corona virus, their oil reserves have now shrunk and the tourism industry has also collapsed. Gradually they are heading towards a financial crisis.