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Kremlin considers OPEC+ deal to be accomplished

Russian President Vladimir Putin positively assesses agreements on oil in the OPEC+ format, according to the spokesman

MOSCOW, April 10. /TASS/. Kremlin spokesman, Dmitry Peskov said the Kremlin considers the OPEC+ deal to be accomplished.

"Certainly," Peskov said, replying to a question from journalists whether the Kremlin considers the new OPEC+ deal to be accomplished.

Russian President Vladimir Putin positively assesses agreements on oil in the OPEC+ format, Dmitry Peskov told reporters on Friday.

The Kremlin welcomes Mexico’s accession to the outcome document, which will have a positive impact on the global market. "President Putin very positively assesses the agreed document, which became a compromise of 22 countries that took part in [the negotiations]," the Kremlin official said. He stressed that Moscow also positively assesses the "constructive position taken by the Mexican side."

"Now we can talk about a compromise of all 23 participating countries, we are convinced that this will have a positive effect, a stabilizing impact on world energy markets," the Kremlin spokesman stated.

Russian President Vladimir Putin does not yet plan a new meeting with chief executives of domestic oil majors after reaching the agreement with OPEC+ and interacts with Energy Minister Alexander Novak on an hourly basis, the presidential press secretary informed.

"There is no need [for such a meeting] in the foreseeable perspective because Minister Novak is in daily contact with oil companies," he said. "The president interacts on a ongoing basis with Novak by phone; this is hourly communication at present," Peskov noted.

The previous meeting on the situation in global energy markets was held by the head of state on April 3 in the videoconference format.

Russia’s tradeoffs in oil production cuts

The decision taken by Russia to make tradeoffs and reduce oil production as part of common efforts for oil market stabilization is not a loss, presidential press secretary Dmitry Peskov told reporters on Friday.

"No, absolutely not," Peskov said. "There are no losers. There are only those winning from this decision. Oil producing countries and countries consuming it and the global economy at large, which may otherwise simply plunge into a chaos, benefit from this decision," he added.

"Russia maintains a consistent position aimed at developing international interaction and cooperation of oil producing countries for the market stabilization, especially in such unprecedentedly challenging time that we face together now," the press secretary said.