The Kremlin said today, Wednesday, that Russia is not in talks with Saudi Arabia on oil prices at the moment, but it is ready for that when necessary.
“The Russian side, as usual, welcomes dialogue, discussion and cooperation for the stability of energy markets,” Dmitry Peskov, spokesman for the Russian presidency, told reporters.
Peskov added that Russian President Vladimir Putin has referred to this repeatedly, and the spokesman also praised his country’s relations with Saudi Arabia.
He said: “Our relations with Saudi Arabia are at a high level, there may be some differences, but in general the level of bilateral relations allows for dialogue when necessary.”
In response to a question whether President Putin intends to hold phone conversations with Saudi King Salman bin Abdulaziz or his Crown Prince Mohammed bin Salman, Peskov said: “So far there is no part of the president’s agenda, but that does not mean that it may not happen “.
This comes at a time when oil prices fell in the markets to the lowest level in nearly 18 years due to concerns about the decline in demand due to the spread of the Corona virus, and the failure of Moscow and Riyadh within the framework of “OPEC +” in reaching an agreement on production cuts.
After the collapse in oil prices, the American side intervened between Russia and Saudi Arabia to reach an understanding to support falling crude prices.
Earlier this week, US President Donald Trump held a phone conversation with Putin, discussing the situation in the oil market, and the two sides agreed on the “importance of stability in the energy market,” and they agreed to hold a dialogue between the two countries at the level of energy ministers.
Before talking to Putin, the US President made a phone call to Prince Muhammad bin Salman, who also discussed with him the situation in the global energy market.
At Trump’s press conference yesterday, he said he would join Saudi Arabia and Russia if needed to hold talks on the sharp drop in oil prices.
He added, “The two countries are discussing the matter and I will join in the appropriate time if necessary,” adding that he had “great” discussions during contacts he had separately with the Saudi crown prince and the Russian president.
In a related development, Russian Energy Minister Alexander Novak and his American counterpart Dan Pruett made a phone call yesterday, during which they discussed the need for a constructive response to the challenges in the energy market and agreed to continue the dialogue.
Russia had earlier indicated its willingness to participate in a new agreement for “OPEC +”, but only on condition that other oil states join this agreement.