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Thursday, May 30, 2024

Russia says US should not ‘lecture’ Saudi Arabia on oil production policy

Kremlin spokesman's remarks come amid reported differences between Riyadh and Washington over oil production cuts

Kremlin spokesman Dmitry Peskov said Saudi Arabia is a sovereign state, and “is capable of making its own decisions.”

“Saudi Arabia is a sovereign state, a responsible state, and a very important player in the international energy markets. Of course, this sovereign state is capable of making decisions that concern its own economy. Hardly anyone, even the US, should lecture (Saudi Arabia) on how to be in this or that case,” he told a press briefing in Moscow.

Read more: Iran officially reopens embassy in Saudi Arabia

He was responding to claims by The Washington Post that after US President Joe Biden vowed to impose “consequences” on Saudi Arabia for slashing oil production last year, Crown Prince Mohammed bin Salman privately threatened to sever ties and retaliate economically, according to a classified US intelligence document.

To prop up prices, Riyadh on Sunday pledged to cut its oil output by 1 million barrels per day (bpd) in July.

Sanctions on the Russian energy sector

Turning to sanctions against the Russian atomic energy sector, Peskov said it will continue developing despite the ill intentions of the US and UK.

The Russian nuclear industry has competitive advantages and has proved its leading position, he said, adding that the nuclear industry is ready to benefit “those who are interested in cooperation.”

Read more: Saudi Arabia, Canada to restore diplomatic ties

As for “unfair competition,” Peskov said Russia had to deal with it “more than once.”

“Yes, this is what causes our concern. But we are aware that, unfortunately, a number of states do not shy away from anything in the course of competition in international markets,” he said.

According to the Atlantic Declaration released on Thursday by the office of British Prime Minister Rishi Sunak, the UK and US formed a new economic partnership, one of the goals of which is to squeeze Russia out of the global nuclear energy market.