Putin to visit Saudi, UAE with Israel-Hamas war on agenda
In a bid to fortify Russia's presence in the Middle East, President Vladimir Putin is set to embark on visits to the United Arab Emirates and Saudi Arabia this week, followed by hosting Iranian President Ebrahim Raisi in Moscow the subsequent day.
According to Dmitry Peskov, the Kremlin spokesperson, the discussions during these meetings will encompass bilateral relations and addressing the ongoing Israel-Hamas conflict. Additionally, talks will center on oil market cooperation, given Moscow's collaborative efforts with these nations within the OPEC+ framework, a coalition comprising the Organization of the Petroleum Exporting Countries (OPEC) and Russia-led allies.
'Discussions on oil market cooperation remain a pivotal part of the OPEC+ dialogue. It's an ongoing aspect of our engagement within this format,' stated Peskov.
The recent announcement by the OPEC+ alliance, initially formed under Putin's guidance in 2016, regarding voluntary supply cuts has been met with skepticism within the oil market.
Putin's foreign policy adviser Yury Ushakov highlighted the productive collaboration between Saudi Arabia and Russia within the realm of oil cooperation.
'Substantial coordination between Russia and Saudi Arabia in this cooperative entity ensures a dependable mechanism for upholding stability and predictability in the global oil market,' Ushakov emphasized.
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