Russia Weighs In on UAE Exit from OPEC, OPEC+
"This is a sovereign decision of the United Arab Emirates, and we respect it," Kremlin spokesman Dmitry Peskov told reporters in a press briefing Wednesday.
Peskov welcomed Abu Dhabi's assurances that the UAE intends to maintain a responsible posture in global energy markets and pursue bilateral coordination, stating that Moscow anticipates continued "constructive and effective" engagement with the Gulf nation, including through dedicated energy dialogue channels.
The Kremlin spokesman went further, expressing Moscow's hope that OPEC+ would endure despite losing one of its most prominent members — lauding the platform as a "very important area of work, particularly crucial in the current climate, when energy markets are, to put it mildly, in turmoil."
"This format allows for significant minimization of fluctuations in non-energy markets and helps stabilize these markets," he added.
Peskov also moved to quash any speculation that Russia might follow the UAE's lead, confirming that Moscow has no intention of exiting the OPEC+ arrangement.
The UAE stunned energy markets Tuesday by announcing its withdrawal from both OPEC and OPEC+ — one of the most consequential fractures within the producer bloc in recent years. The decision lands as global energy markets reel from severe disruption triggered by the U.S.-Israeli military campaign against Iran, which has driven crude prices sharply higher and deepened anxieties over Gulf supply security.
The UAE has held OPEC membership since 1967. Russia participates in the broader OPEC+ coalition.
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