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World oil prices

OPEC+ deal helps avoid negative developments in energy markets — Kremlin

The Kremlin considers the deal to be successful, recalling that Moscow previously warned against hasty conclusions

© Yegor Aleev/TASS

MOSCOW, May 26. /TASS/. The negative developments in the global energy markets can be avoided largely thanks to the new OPEC+ deal, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday.

Read also

OPEC calls for full implementation of OPEC+ deal

He noted that the Kremlin considers the deal to be successful, recalling that Moscow had previously "warned against hasty and emotional conclusions."

"We pointed at the fact that this is a forward-looking transaction, whose effectiveness also tends to manifest itself in the future," he said.

Read also

Kremlin says talk about oil output drop possible only after OPEC+ deal enters into force

"In any case, it can be stated that largely thanks to this transaction now they manage to avoid a completely negative situation, a slump, in energy markets," he concluded.

When asked if the parties to the agreement need to make additional efforts to further stabilize the situation on the energy market, the Kremlin official noted that "perhaps some elements related to reduced demand and overproduction cannot be fully eliminated, because it is impossible to completely reverse the global situation."

"But in general, it is obvious that the participating countries will monitor the way the situation is developing," Peskov added.

The spokesman recalled that "the deal has its own time frame, clearly defined." "Russia is a responsible participant in international relations, including in such a crucially important and sensitive industry as energy markets," he said, answering the question whether Russia continues to act within the framework of the agreement.

OPEC+ countries finalized the agreement on crude output reduction at an extraordinary meeting on April 12 in a move to stabilize the situation on the oil market. It came into effect on May 1 and will expire at the end of April 2022. The agreement comprises several stages.

The first stage implies reduction of output by 23 countries in May-June by 9.7 mln barrels per day. Russia and Saudi Arabia have the biggest reduction quotas — by 2.5 mln barrels per day, or by 23%, to 8.5 mln barrels per day. The total quota will decrease to 7.7 mln barrels per day starting July 2020, and to 5.8 mln barrels per day starting 2021. The terms of the agreement can be revised in December 2021.

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According to the report, the use of Oreshnik has become "part of a new era of missile warfare"

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The Russian Defense Ministry announced earlier in the day that the country’s latest Oreshnik intermediate-range ballistic missile hit all the targets at a major Ukrainian military-industrial enterprise in Dnepr (Dnepropetrovsk) with its MIRVed warheads

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According to Daniel Davis authorizing US long-range weapons to be used against Russia is "foolhardy to the highest order," "especially because there is no military upside for doing so"

US Congressman urges to impeach Biden for allowing strikes deep into Russia

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Andrey Kartapolov added that the special military operation in Ukraine "will continue its course until all tasks are completed"

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Maria Zakharova quoted the US Senator, who called the ICC a "Kangaroo court" and ICC Prosecutor Karim Khan a "deranged fanatic"

US, West have no capabilities to intercept new Russian hypersonic missile — expert

"There is more in the Russian arsenal than many believe," said Karin Kneissl, the former Foreign Minister of Austria

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The Russian president said that "all the goals we set for ourselves are being achieved"

Japanese government refrains from commenting on Russia’s latest hypersonic missile

At the same time, Chief Cabinet Secretary Yoshimasa Hayashi once again criticized Russia’s actions in Ukraine

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German politician slams Ukraine’s ‘irresponsible’ strike on Russia with UK-made missiles

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Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

According to the experts, Ukraine’s incursion into Russia’s borderline Kursk Region turned out to be a "strategic catastrophe" amid "manpower shortages"

Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

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"As a result, the goals that the enemy apparently set have not been achieved," the Russian leader said

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Andrey Kelin also recalled that the policy of the Russian leadership enjoys the full support and confidence of the country's population

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The Belarusian leader noted that they want to go to Warsaw

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Olaf Scholz stated that only the Social Democratic Party of Germany could maintain a balance between caution and clear support for Ukraine

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Andrey Marochko noted that the Russian forces' advances along this stretch of the front are facilitated by their control over an earlier seized strategic position, as "the activities of the assault groups are provided with cover," and "the Russian Armed Forces outnumber Ukrainian units"

Washington has no plans of updating nuclear posture after Russia’s test of new missile

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IN BRIEF: What Putin said about Russia’s new missile, and Moscow’s response to the West

Moscow used its new Oreshnik medium-range hypersonic ballistic missile in response to the West’s decision to authorize strategic-depth strikes on Russia

US, European officials suggest returning nukes to Ukraine — NYT

US officials believe that ramping up weapons supplies to Ukraine is unlikely to change the situation in the combat zone short term, but it may help Kiev strengthen its stance in case a truce is reached

Russian military to warn Ukrainian civilians of future Oreshnik attacks — Kremlin

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Russia encircles largest Ukrainian fortification in southern DPR — security services

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Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

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Enemy has no countermeasures for Russia’s Oreshnik missile — Putin

Speaking in a televised address, the head of state assured that Russia will issue notifications before using this type of missile

West builds up military presence near Russia’s Arctic borders — presidential aide

According to Nikolay Patrushev, the "imposed sanctions restrictions are aimed at thwarting the implementation of Russia’s Arctic projects"

China urges restraint after Russia, Ukraine's exchange of attacks — foreign ministry

Lin Jian also reaffirmed Beijing's position on the Ukrainian issue

Zelensky begs ‘for his country to be flattened’ — US journalist

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Russia’s reaction to Austrian OMV’s failure to pay for gas justified — MFA

The company stated it would seek damages amounting to 230 million euro for failing to receive the contracted volume of gas from the Russian company for delivery to Germany

Putin's speech shows West that Russia won’t waver, is ready for any scenario — expert

Dmitry Suslov pointed to a crucial message in the President's speech: "Russia firmly believes that the West has moved from a proxy war to a direct war" and that the sides are already "in a state of global conflict"

US administration chooses to escalate Ukraine conflict — Kremlin

Earlier, Putin stressed that the Ukrainian army is unable to fire the latest Western-made long-range missiles on its own without support from NATO satellite feeds and the involvement of the bloc’s military

Japanese lawmaker praises Putin's restraint amid decision to strike deep into Russia

Top EU diplomat Josep Borrell confirmed that the US administration had lifted restrictions for US-supplied missiles to be used for strikes up to 300 kilometers inside Russia

Russia’s Oreshnik has no analogues worldwide — Putin

"We know what kind of developments are being carried out there, but this will happen tomorrow or in a year or two, but we have such a system already today," the president said

Oreshnik can reach targets across entire Europe — missile troops commander

"Based on the tasks and the range of this weapon, it can hit targets across entire Europe, which sets it apart from other high-precision long-range weapons," Sergey Karakayev said

Any escalation scenario possible in Ukraine conflict — Medvedev

According to the politician, Western nations need to understand that they are fighting on Ukraine’s side

West launched missiles targeting Russia’s Bryansk, Kursk Regions — Putin

Russian air defenses repulsed all attacks, the Russian president said

World has not seen such chaos, brutality since World War II — Kim Jong Un

The North Korean leader explained that the "shameless tricks" of the US to establish its hegemony and "the resulting discord and confrontation of all kinds" have passed the "critical point of explosion" and escalated into "unjust and terrible wars" and "catastrophic disasters"

US decision to allow missile strikes deep into Russia fuels global escalation — Slovak PM

Robert Fico also rejected the belief that this escalation would not impact "those living far away, in Spain, England, or America"

Putin warns West that Russia can respond to any turn of events

"There will always be an answer," the president said

Russian ambassador says UK prime minister doesn’t understand situation in Ukraine

Turning to the Labour Party’s domestic policies, Andrey Kelin said Starmer’s plans to spur the economy were "not met with applause by the population

Russia interested in security of Baltic undersea infrastructure — embassy in Denmark

"It is important to ensure a thorough investigation and clarify the reasons why underwater cables in the Baltic Sea are now out of order," embassy said

Russia hit Ukrainian military-industrial facility in response to use of Western missiles

It is reported that the Russian Armed Forces carried out a combined strike at a Ukrainian military-industrial complex on November 21

Ukraine conflict entering decisive phase, Polish PM says

According to Donald Tusk, "no one knows how the conflict will end"

Eliminating best enemy units: Defense Minister visits special op area

Andrey Belousov stressed that Russian troops have accelerated their advance in the special military operation zone and have effectively disrupted Kiev's 2025 military campaign

China against double standards in international law — Foreign Ministry

Spokesman Lin Jian highlighted Washington's use of double standards in handling the Israeli-Palestinian conflict within the United Nations

Zelensky shook up by Russia’s response to permission to attack it — Lavrov

According to the Russian foreign minister, the West is directly involved in the use of long-range weapons against Russia, as not a single missile could be launched without its involvement

Western air defense systems unlikely to intercept Russian missiles — France’s Le Monde

According to the French military source, Russia's recent use of the Oreshnik intermediate-range ballistic missile should be taken in the context of possible negotiations regarding the ongoing Ukrainian conflict

Bulgarian politician sees Oreshnik missile strike as wake-up call for peace

"European politicians need to think twice about what they do next, especially since Donald Trump, who will take office in two months, replacing the current White House occupant, has already expressed his commitment to the policy of peace," Krasimir Karakachanov said

Decision on strikes inside Russia seals US puppet Zelensky’s fate — commentator

The New York Times reported earlier, citing sources, that US President Joe Biden had authorized the use of US-made ATACMS tactical ballistic missiles for strikes inside Russia

Russia entitled to use weapons against military sites of states attacking it — Duma

"Russia has repeatedly stated that such actions will receive a response – and it will be a stronger one," Duma Speaker Vyacheslav Volodin stressed