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US-Russia confrontation could drift to Mideast

The question is whether Iran, Egypt, or Saudi Arabia, in particular, will change their policies in the context of the US-Russia standoff.
People attend a rally called "We are together" to support the annexation of Ukraine's Crimea to Russia in Red Square in central Moscow, March 18, 2014. Russian President Vladimir Putin, defying Ukrainian protests and Western sanctions, signed a treaty on Tuesday making Crimea part of Russia but said he did not plan to seize any other regions of Ukraine. The flags display portraits of Russia's President Vladimir Putin and read "We are together!" REUTERS/Maxim Shemetov (RUSSIA - Tags: POLITICS TPX IMAGES OF T
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As Russia moves steadily toward annexing Crimea — and the United States and Western countries respond with sanctions and other steps — the risk of an extended global confrontation is growing. Although any confrontation between the West and Russia would likely differ significantly from the Cold War because of today’s massive economic imbalance between the two sides, it may also look like the Cold War in some respects. Among these may be a struggle for influence in the Middle East with unpredictable results.

With 1.3% economic growth last year — without a major geopolitical crisis or Western sanctions — Russia’s financial resources will be strained and its options limited. Still, the Central Bank has nearly half a trillion dollars in reserves, which could help Moscow to manage an economic slump for some time, possibly two or three years at current energy price levels (oil and gas revenues make up about 50% of Russia’s federal budget revenue, with oil providing the vast majority of this). 

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