1. Economic Diplomacy: The impact of Russia’s growing role on the Lebanese crisis
- Author:
- Nawar Samad
- Publication Date:
- 07-2021
- Content Type:
- Commentary and Analysis
- Institution:
- Future for Advanced Research and Studies (FARAS)
- Abstract:
- A Russian business delegation visited Lebanon in late June 2021 to offer support to the country by cultivating projects in the oil sector, development plans for the energy industry as well as the ports in Beirut and Tripoli. For the past two years, Lebanon, which is going through the worst economic and financial crisis in its history, and has been trying to secure international aid to survive, is now facing the attractive Russian economic bailout offer. Although such an offer is welcomed by Lebanon, the Russian initiative raises concerns across the West, and particularly in the United States, which is in control of Lebanon’s banking system and still has significant influence on the state’s politics and financial sector. The United States believes that it is not possible to dissociate this Russian offer from Moscow’s desire to expand its influence in a region, in which it already established military presence and gained access to the Eastern Mediterranean, where a conflict is underway over investment of newly-discovered gas fields.
- Topic:
- Diplomacy, Economics, Financial Crisis, and Gas
- Political Geography:
- Russia, Eurasia, Middle East, and Lebanon