MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the Russian Foreign Intelligence Chief Sergey Naryshkin said.
The Russian official made the statement in the documentary “Oil” on the premier online platform.
“The ‘hegemon’ has lost a step. It is no longer able to prompt Middle East countries to move in line with the interests of the United States in their policy as regards oil production,” Naryshkin said.
The US cannot dictate prices, although they would like to. “They cannot because the world is becoming a multipolar one,” he said.
“This multipolarity is expressed in particular in the existence of the group of countries known as OPEC+,” he added.
OPEC+ is a cornerstone institution, the Russian intelligence chief said.
“This is a wholesale trend that will definitely evolve, particularly as regards exploiting and using such wealth that humankind has, which is called oil,” he added.
Russian Foreign Minister Sergey Lavrov said that Moscow does not see the risk of trading oil at a loss due to the redistribution of energy flows to the East – growing local markets will be able to “absorb” its supply,
Lavrov said this in an interview for the documentary project “Oil” published on the website of the Russian Foreign Ministry.
“I do not see such threats at all. I’ve already said that China and India are expanding rapidly. They can absorb supply from numerous OPEC+ member countries,” he said.
“The organization regulates the market and prices in an equitable manner, taking into account the interests of consumers. OPEC+ will not set prices that are unacceptable to customers. This is that fair balance of interests,” the minister said.
