Qatar Steps In to Buy Rosneft Stake After China Deal Collapses

[Stormysaga + 62]

Qatar is taking a stake in Rosneft of nearly 19 percent, rescuing the Russian oil major from its stalled deal to sell a major stake to China’s CEFC.The deal strengthens ties between Moscow and Doha at a time Qatar when is facing boycott by its Gulf Arab neighbors. Qatar’s sovereign investment fund QIA initially bought 19.5 percent in Rosneft together with Swiss trading giant Glencore for $12.2 billion during the Russian firm’s partial privatization in 2016.

[Tom Kirkman + 8,860]

That's good news, and a smart move by Qatar.  The Qatar / KSA spat seems to be heating up again, and Qatar strengthening with Russia as an ally may get KSA to back down a bit.