At the same time, it is in favor of diversifying its sources of supply, including Iran and Venezuela.
France today called on oil-producing countries to increase production “in an unusual way” and advocated a “supply diversification” to Iran and Venezuela in order to halt the price spike in the pump caused by the war in Ukraine.
“We need producing countries to produce more in an unusual way”until the crisis is over, “with the goal of carbon neutrality clearly confirmed,” the French presidency said on the sidelines of the G7 summit in Elmau, Germany.
The American president Joe Biden He is expected to discuss the issue during a visit to Saudi Arabia in July, and his French counterpart Emanuel Macron is also in “contact” with the Saudi Crown Prince. Mohammed bin Salmanas well as with the new President of the United Arab Emirates Mohammed bin Zayed, the Elysee reported.
“There are resources elsewhere that we also need to explore,” the French presidency continued.
“Negotiations on the Iranian nuclear dossier are currently stalled on nuclear issues, but not on the relationship between Iran and the United States on a specific issue, US sanctions on terrorism,” he said.
“So there is a knot to solve if necessary” in order for Iranian oil to be “delivered to the markets,” the French presidency stressed. “Venezuelan oil must also be able to be delivered to the market,” he said.
These two oil-producing countries are subject to US sanctions.
France also supports the US proposal for a “price cap” on oil prices, but considers it necessary to extend it to gas and all market players.
“The principle of a price cap is acceptable, it can be supported, but the way it is implemented is quite uncertain. It must be as broad as possible,” the French presidency said, calling for “in-depth discussions”.
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