Russia Links Persian Gulf Instability to Worsening Global Energy Market
According to the International Desk of Webangah News Agency, the Kremlin spokesperson, Dmitry Peskov, has asserted that ongoing instability in the Persian Gulf has caused a substantial volume of oil to exit the global market, leading to a rapid deterioration of the energy market’s situation. Peskov noted on Monday that immense quantities of oil have been removed from circulation. He specifically pointed out that disruptions to Saudi Arabia’s East-West oil pipeline alone have taken more than 4 percent of global oil supply offline, a development he believes will have serious ramifications for economies worldwide.
Peskov also revealed that Russia has temporarily banned the export of petroleum products to ensure the needs of its domestic market are fully met. However, he indicated that the lifting of this ban and the potential return of some of these products to the global market would be considered once domestic demand is satisfied. In a separate statement, the Kremlin spokesperson welcomed calls for Ukraine to cease attacks on Russia’s civilian economic infrastructure. He suggested that any country could leverage its influence over Kyiv to encourage greater flexibility in ending the conflict.
Furthermore, Peskov announced that battlefield developments are gradually clarifying for Western analysts that Russia is steadily advancing toward its objectives. He also stated that President Vladimir Putin has welcomed the readiness of China and India to assist in efforts to resolve the conflict in Ukraine. Peskov refrained from commenting on Finland’s decision to join France’s initiative for an advanced nuclear deterrence concept, explaining that he was not yet privy to the details of the proposal. He additionally clarified that the expansion of BRICS and new membership applications were not discussed at the group’s recent summit in New Delhi, though Russia supports Cuba’s expressed desire to join the bloc.
