Putin says Russia not working ‘towards anybody’ in vitality markets By Reuters

(Reuters) – President Vladimir Putin stated on Tuesday that Russia was not working towards anybody on vitality markets and was searching for a steadiness between oil provide and demand, every week after Washington criticised a choice by OPEC+ to steeply minimize oil manufacturing.

Talking with President Sheikh Mohammed bin Zayed al-Nahyan of the United Arab Emirates, Putin stated Russia aimed to create stability on vitality markets and be sure that provide and consumption have been balanced.

“We’re additionally actively working throughout the framework of OPEC+. I do know your place, our actions, our choices aren’t directed towards anybody, we aren’t going to and don’t do it in such a means as to create issues for anybody,” Putin stated on the assembly in St. Petersburg.

“Our actions are aimed toward creating stability within the world vitality markets, in order that each customers of vitality assets and people concerned in manufacturing, suppliers to the worldwide markets really feel calm, steady and assured. In order that the availability and demand could be balanced.”

U.S. President Joe Biden has known as on his administration and Congress to discover methods to spice up U.S. vitality manufacturing and cut back OPEC’s management over vitality costs after what Washington known as the cartel’s “shortsighted” manufacturing cuts.

The transfer drew a pointy response from Biden that underscores the rising rift between america and Saudi Arabia on vitality coverage.

Earlier than the assembly, the UAE’s overseas ministry stated the go to aimed to assist attain “efficient political options” to the Ukrainian disaster.

The UAE sought to “obtain constructive outcomes for army de-escalation, cut back humanitarian repercussions, and attain a political settlement to attain world peace and safety,” the ministry added.

Sheikh Mohammed stated on Twitter about his assembly with Putin: “We mentioned a number of problems with mutual concern, together with the Ukraine disaster, and the significance of participating in dialogue to scale back tensions and arrive at a diplomatic resolution.”

The Kremlin on Sunday praised OPEC+ for agreeing manufacturing cuts that it stated had efficiently countered the “mayhem” sown by america in world vitality markets.