The US and its allies have been known to ruminate episodically about “resets” with their adversaries. Vladimir Putin’s Russia comes to mind, as do China and Iran. Rarely, however, have they been forced to consider a reset with longstanding but disgruntled allies, as they are now with Saudi Arabia and the United Arab Emirates.

Joe Biden’s administration is dismayed that its repeated efforts to persuade Saudi Arabia and the UAE to start pumping their spare crude oil capacity have been rebuffed. The idea is to add supply to offset rocketing prices in the wake of the Russian invasion of Ukraine that threaten an oil and energy shock which could tip the world into recession — a replay of the 1970s when an Opec embargo did just that. As members of Saudi-led Opec, Riyadh and Abu Dhabi are sticking to the output limits they agreed with Russia before this war, in the so-called Opec+ co-operation deal.

Washington and European capitals are also irritated at their Gulf allies’ non-committal reaction to Putin’s vicious attack on Ukraine. The Saudis and Emiratis are ignoring the wall of sanctions the US and its partners are building around Russia. Economists and real estate agents in the UAE say Russian money has started flooding into Dubai, much of it in cryptocurrency. Saudi Arabia is reportedly arranging a state visit for President Xi Jinping of China, Putin’s main global supporter.