Putin says Russia is not hostile to anyone in energy markets

Speaking with UAE President Sheikh Mohammed bin Zayed Al-Nahyan, Putin said Russia seeks stability in energy markets and a balance between supply and consumption.

“We are actively working under OPEC+. I know that your vision, our actions, our decisions are not aimed at anyone, we are not going to create problems for anyone,” Putin said. Meeting in St. Petersburg.

“Our actions are aimed at creating stability in global energy markets so that consumers and producers of energy resources, suppliers to 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 consider ways to increase US energy production and loosen OPEC’s control over energy prices after the Washington cartel’s “short-sighted” production cuts.

The move prompted a sharp response from Biden, underscoring a growing rift between the United States and Saudi Arabia over energy policy.

Before the meeting, the UAE Foreign Ministry said the purpose of the visit was to contribute to “effective political solutions” to the Ukrainian crisis.

The ministry added that the UAE wants to “achieve positive outcomes for military de-escalation, minimize humanitarian consequences and achieve a political solution to achieve global peace and security”.

Sheikh Mohammed said on Twitter about the meeting with Putin: “We discussed many matters of mutual interest, including the importance of dialogue to reduce the crisis and tensions in Ukraine and find a diplomatic solution.”

The Kremlin on Sunday praised OPEC+ for agreeing to production cuts that it said had successfully countered the “chaos” the US had sown in global energy markets.