Diplomatic Briefing

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Newsline: Russia and Saudi top diplomats praise OPEC+

Russian Foreign Minister Sergei Lavrov met Saudi counterpart Prince Faisal bin Farhan Al Saud in Riyadh and both men praised the level of cooperation inside OPEC+, the Russian foreign ministry said. “They noted the stabilising effect that the tight cooperation between Russia and Saudi Arabia has on world markets for hydrocarbons in this strategically important sector,” the ministry said in a statement on its website. (https://news.yahoo.com/russia-saudi-ministers-praised-level-001928326.html) There was no immediate comment from Saudi Arabia. Lavrov arrived in Saudi Arabia on Tuesday and is expected to meet with other foreign ministers from the Gulf Cooperation Council (GCC) states, Saudi state media reported. Russia is a leading member of OPEC+, along with some ex-Soviet states and other countries. The Wall Street Journal, quoting OPEC delegates, suggested that exempting Russia from OPEC+ could potentially pave the way for other producers to pump significantly more crude as sought by the United States and European nations. Lavrov’s meeting with his Saudi counterpart came shortly after the European Union agreed on significant cuts to imports of Russian crude as part of its latest sanctions.

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