Over the weekend, in a diplomatic power play by Vladimir Putin, Russia's energy giant Rosneft formalized 12 foreign deals.
The deals were defiantly signed by Igor Sechin, Rosneft's CEO, who was recently sanctioned by the Obama Administration (placed on the U.S. Treasury Department's blacklist).
Putin has bet that these business deals will buy him complacency from European nations and counter-pressure from other major players, such as China and India.
Sadly, he's probably right.
As we've posted before, "Putin (Like Castro) Has Europe's Number."
Among the major deals were:
A gas contract worth $400 billion with China.
A $1 billion chunk of Italy's Pirelli tire company.
A major shale gas exploration deal with British Petroleum (BP).
A potential controlling stake in the world's largest offshore driller, Norway's Seadrill.
A deal with India's ONGC Videsh to jointly explore hydrocarbons in the offshore Artic.
A long-term oil supply contract, including a $2 billion prepayment, with Venezuela's PDVSA (to shore up the Maduro government).
And what did Cuba's regime get from this billionaire jamboree?
A student exchange program -- and more evidence that Castro's oil seduction is a scam.
According to Cuban state media:
The Russian oil giant Rosneft and the Cuban oil company CUPET on Saturday signed a memorandum of cooperation that will enable Cuban oil technicians to study in Russia.
Under the terms of the first pact, Rosneft will enroll Cuban engineers at the Moscow-based Gubkin Russian State University of Oil and Gas, which specializes in petroleum engineering. Beginning in September, Cuban engineers will begin studies leading to a Master’s or a Doctor’s degree in petrochemistry.
Rosneft will not only provide financial support for the project but also allow the Cuban students to serve an internship in its production facilities, where they will be introduced to innovations in the field of oil and gas production.
Putin is sleazy and strategic, but not stupid.
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