THE ENERGY FACTOR IN THE DEVELOPMENT OF SAUDI ARABIA’S FOREIGN POLICY AT THE PRESENT STAGE

Abstract

The article is devoted to the analysis of the energy factor in the formation and development of the modern foreign policy of Saudi Arabia. For decades, the foreign policy, as well as the entire economic system, of the kingdom has been directly dependent on the export of petroleum products and crude oil. Until the beginning of the 2000s western states were the main importers of Saudi energy resources, which directly affected Riyadh’s foreign policy orientation and often had a negative impact on the implementation of national interests and strategic objectives of state development. However, at the present stage, there is a process of formation of a multi-vector foreign policy of Saudi Arabia due to the intensification of trade and economic relations with non-Western states. When analyzing this aspect, the authors paid special attention to the main indicators of diversification of Riyadh’s leading partners, the results of the negotiation process on the kingdom’s accession to BRICS and the development of cooperation within the expanded OPEC format – OPEC+.