Russia's Oil Diplomacy: Balancing Budget and National Interests
Russia views national interests as paramount, transcending oil price fluctuations, Kremlin's Peskov remarks. While oil significantly impacts Russia's budget and economy, Moscow remains steadfast in its strategic priorities. Collaborating with OPEC+ to keep prices stable, Russia prioritizes its role in ongoing U.S. talks over Ukrainian conflict resolution.
Oil prices are pivotal to Russia's budget and the broader economy, but safeguarding national interests remains the Kremlin's primary focus, according to spokesman Dmitry Peskov on Tuesday.
Peskov's comments follow U.S. President Donald Trump's suggestion that lower oil prices might push President Vladimir Putin towards resolving the Ukraine conflict. Peskov emphasized, "Oil prices cannot dictate Russia's stance on its national interests. Russia's priorities surpass any oil price considerations."
Peskov asserted Russia's ongoing collaboration with OPEC+ to stabilize oil prices, highlighting its critical role in the nation's economic framework. "While oil prices are crucial, Russia's longstanding engagement in the OPEC+ framework aims to sustain optimal price levels, avoiding extremes which harm the global economy," Peskov stated. Efforts with the U.S. continue towards resolving the Ukraine conflict.
(With inputs from agencies.)
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