Putin asserted that “Russia aims to create stability in energy markets and ensure that supply and consumption are in balance.”
The president Vladimir Putin argued on Tuesday that Russia was not “working against anyone” in energy markets, a week after Washington criticized an OPEC+ decision to sharply reduce oil production.
Speaking alongside the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, Putin asserted that “Russia aims to create stability in energy markets and ensure that supply and consumption are in balance.”
“We also work actively within the framework of OPEC+. I know your position, our actions, our decisions are not directed against anyone, we are not going and we are not doing it in such a way as to cause problems for anyone,” Putin insisted during the meeting held in St. Petersburg.
“Our actions are aimed at create stability in global energy markets, so that both consumers of energy resources and those involved in production, suppliers in global markets, feel calm, stable and confident. So that supply and demand are in balance.”
US President Joe Biden has called on his administration and Congress to explore ways to increase US energy production and reduce OPEC+’s control over energy prices after the cartel’s “short-sighted” production cuts. The decision prompted a sharp response from Biden, highlighting the growing rift between the United States and Saudi Arabia over energy policy.
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