Putin and Binsalman Talk Five Days After Biden's Middle East Tour... Emphasizing Cooperation Within OPEC+

[Image source=EPA Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Russian President Vladimir Putin held a phone call with Crown Prince Mohammed bin Salman, known as the de facto ruler of Saudi Arabia, emphasizing cooperation within OPEC+ (Organization of the Petroleum Exporting Countries and allies). This call, which took place shortly after U.S. President Joe Biden's Middle East tour, is expected to indicate that Saudi Arabia will not actively increase oil production in response to U.S. requests.

According to Russia's TASS news agency on the 21st (local time), the Kremlin announced in a statement that President Putin had a phone call with Crown Prince bin Salman on the same day. The Kremlin stated, "President Putin and Crown Prince Mohammed discussed bilateral cooperation issues with a focus on expanding mutually beneficial trade and economic relations," and "they also thoroughly reviewed the current international crude oil market situation."

It added, "President Putin emphasized the importance of further coordination within the framework of OPEC+," and "he expressed satisfaction that OPEC+ member countries are consistently fulfilling their obligations to maintain essential balance and stability in the international energy market." It is also reported that President Putin exchanged views on the results of the trilateral summit between Russia, Iran, and Turkey, which he attended during his recent visit to Iran, as well as on the situation in Syria.

This call has attracted attention as it occurred only five days after President Biden's Middle East tour. Politico analyzed, "This call benefits both President Putin, who wants to show that Biden's visit has no impact on bilateral relations, and Crown Prince Mohammed, who wants to send a signal that Saudi Arabia will not act according to U.S. demands on oil prices."

Accordingly, expectations are growing that Saudi Arabia will not increase oil production in response to President Biden's request. It is also anticipated that no groundbreaking production increase plan will emerge at the OPEC+ meeting scheduled for the 3rd of next month.

Following this call, Russian Foreign Minister Sergey Lavrov is scheduled to hold talks with Arab League member states in Cairo, Egypt, on the 24th. It is expected that the level of countermeasures against U.S. Middle East policy will further escalate.

This content was produced with the assistance of AI translation services.