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Rosneft CEO says growth of global oil price inevitable due to shortage of investment

Oil demand keeps growing, having increased by 2.4 mln barrels per day to record 102 mln barrels per say in 2023, Igor Sechin noted

ST. PETERSBURG, June 17. /TASS/. Global prices of oil will rise amid its deficit on the market because of the shortage of investment, Chief Executive Officer of Rosneft Igor Sechin said at the St. Petersburg International Economic Forum (SPIEF).

"Underinvestment with inevitably create deficit on the market, which will push oil prices up. This is also stated by Saudi Arabia, which has announced another reduction of output, the third one since the (OPEC+) agreement was enforced, and it is interested both in the long-term stability of the market and prevention of speculative volatility and maintenance of the oil price at the level of $80 per barrel and its further growth," he explained.

That said, oil demand keeps growing, having increased by 2.4 mln barrels per day to record 102 mln barrels per say in 2023, Sechin noted.

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is the theme of this year’s forum. TASS is the official information partner of the event.

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Rosneft SPIEF-2023

Eurasian Economic Union

Multiple documents adopted during EAEU summit in Moscow

One document marks the beginning of negotiations on a trade agreement with Mongolia

French troops to become target for Moscow forces if deployed to Ukraine — Russian MFA

According to Maria Zakharova, French President Emmanuel Macron’s bellicose rhetoric "is being rejected not only by many European Union and NATO allies," but also - most importantly - "by the vast majority of French citizens"

Turkish expert says Putin's inauguration speech echoes what he said in Munich years ago

Aydin Sezer recalled that during the Munich Security Conference back in 2007 "Putin said that the unipolar world had no future and a multipolar world order was needed"

Press review: Vladimir Putin sworn in for fifth term and EU, Ukraine talk arms deal

Top stories from the Russian press on Wednesday, May 8th

Attack on Soviet Union was OUN’s aim from outset — declassified archives

One of the memos, classified as "Top secret," dated February 1948, contains information concerning the creation of the OUN even before the Great Patriotic War - during the period from 1929 to 1941

Inquiry against German Air Force chief over leaked conversation closed

"In particular, there was no evidence of deliberate actions on behalf of the above-mentioned individual," Business Insider wrote

Kremlin sees Ukrainian petition for deployment of NATO troops as dangerous provocation

The petition to invite foreign troops to Ukraine was posted on the Ukrainian president’s website on Tuesday

Thai king congratulates Putin on taking office as Russian president

"This yet another presidential term is a fact illustrating the people’s boundless confidence in your leadership," Maha Vajiralongkorn said

Kiev troops presumably used ATACMS missiles to strike Lugansk — politician

"Missiles hit an oil storage facility within city limits," Vladimir Rogov said

Macron’s aggressive rhetoric baffles even his allies — diplomat

"Very often France’s allies from the UK and Germany, as we understand, try to get clarifications as to what the French leadership means, without getting a direct answer," Maria Zakharova pointed out

Russian embassy slams ‘unacceptable’ Berlin’s decision to ban Russian flag on May 8-9

"We consider the bans discriminatory and contrary to the spirit of post-war historical reconciliation of the peoples of Russia and Germany," the Russian diplomats pointed out

Some countries reevaluating reliance on dollar over national security concerns — IMF

Meanwhile, "despite increased geopolitical risks, the latest data show that the US dollar remains dominant," Gita Gopinath noted

Presence of French-speaking mercenaries identified in 20 cases in Zaporozhye — politician

Ethnic Poles and Georgians account for the largest groups of mercenaries in the Ukrainian army

Authorities of two Ukrainian regions report damage to critical infrastructure

In turn, head of the Kiev-backed regional administration of Zaporozhye, Ivan Fedorov, reported "some damage" in the area, also without details

US sees no signs indicating Russia’s plans to use nuclear weapons — Pentagon

Department of Defense spokesperson Sabrina Singh said that the United States views the decision to hold a military exercise of this kind as "deeply irresponsible"

More than 90% of payments in EAEU are carried out in national currencies — Putin

The Russian leader noted that the combined GDP of the countries of the Eurasian Economic Union, according to available estimates, increased from $1.6 trillion to $2.5 trillion

Putin says Russia had to use force to defend people in Donbass as peaceful means failed

"A little later it became clear that we were simply being led around by the nose, and we had to take extraordinary measures to protect these people with military force," the Russian leader said

West plotted aggression against Russia on eve of special military operation — top brass

"History repeats itself," Chief of the Russian General Staff’s Main Intelligence Department, Deputy Chief of the General Staff, Hero of Russia Admiral Kostyukov said

US envoy leaves Russia for certain amount of time — senior Russian diplomat

"The Foreign Ministry was told about this some time before the issue with inviting ambassadors to the inauguration ceremony of the Russian president was resolved," Sergey Ryabkov said

Dutch MEP congratulates Putin on his inauguration

"Congratulations president Putin and congratulations people of Russia with your president," Marcel de Graaff from the Dutch party Forum for Democracy said

Russian government resigns

The cabinet will continue to carry out its duties until a new government is appointed

EU to agree 14th package of anti-Russia sanctions by July — EUobserver

Moreover, the new package of sanctions proposes an EU27-wide prohibition on Russian funding for "European political parties and European political foundations", "non-governmental organizations", and "media service providers", EUobserver said

Medvedev gives warning amid talk of deploying Western troops to Ukraine

According to the politician, the cause of the discussion on dispatching Western troops to Ukraine, launched by French President Emmanuel Macron, is a "shameless calculation for political bonus points"

FACTBOX: Key facts and figures about Russia’s Victory Day

Festive processions, gatherings, assemblies and reception ceremonies are held across Russia on May 9 to honor veterans of the 1941-1945 Great Patriotic War

Pashinyan leaves for Moscow to attend summit, meet with Putin

The summit of the Supreme Eurasian Economic Council, the highest body of the Eurasian Economic Union (EAEU), will be held in Moscow on May 8

MAKS air show may be canceled in 2024 — source

There are no dates for the event on its official website

Russia hands over last RD-180 rocket engines to US under existing deal

The United States has received 122 RD-180 rocket engines over more than 20 years of cooperation

FSB declassifies Hitler aide’s testimony how Red Army rescued Allies in Ardennes in 1945

Hitler's former adjutant Otto Guensche was captured during the battle of Berlin in April-May 1945 and, while being kept in custody in an investigative prison in Moscow, presented a firsthand account of what was happening at Hitler's headquarters in the last months of the war

Russian sniper reports elimination of Ukrainian serviceman wearing helmet with SS emblem

He specified that his group took the helmet as proof of the elimination

Russia to develop cooperation with North Korea in all possible areas — Kremlin

US State Department Spokesperson Matthew Miller said earlier that the US together with its partners would continue imposing sanctions for allegedly assisting weapons and petroleum products supplies between Russia and North Korea

Armenia to refrain from financing CSTO activity in 2024

Armenian Prime Minister Nikol Pashinyan said earlier that his country cannot rely on the CSTO and he cannot answer Armenian society’s question why the country should be its member

West should engage in dialogue with Russia — US expert

In Peter Kuznick opinion, the world is on the verge of a most serious conflict while "NATO is conducting massive war games"

Russian forces destroy Ukrainian missile solid propellant workshop over past day

Russian troops gained better positions in the south Donetsk area over the past day, the ministry reported

Putin may propose candidate for prime minister as early as today — spokesman

Dmitry Peskov recalled that after the inauguration, the Russian government resigned and the members of the Cabinet continued to work in the status of acting ministers

Putin wants number of foreign students in Russia to rise to 500,000 by 2030

According to the Russian Education and Science Ministry, more than 355,000 foreigners are currently studying in Russian universities

Indonesian ambassador says Su-35 fighter jets contract remains in force

Indonesian Ambassador to Russia Jose Tavares said that around 30% of weapons in service with his country’s armed forces are Russian-made

French tired of supporting Ukraine — war correspondent

Christelle Nahan noted that people were tired of the fact that there was not enough money for the development of infrastructure, hospitals and schools, for pensions and benefits for children

Emergency Ministry employee detained in Kherson Region over collaboration with Ukraine

According to the investigators, he kept improvised explosive devices for sabotage operation

NATO wants 'hot war' with Russia which may destroy US, Carlson says

According to the journalist, everything that Washington does shows that it wants this war

Forecasts show Russia may overtake Japan in terms of GDP growth by 2030

Andrey Belousov opined that the Russian Central Bank’s key rate would remain at a high level so far, declining to 6-7% by 2027

Belarus won’t succumb to provocations or go to war with anyone — president

The Belarusian leader Alexander Lukashenko doubts that any serious political force in Western Europe wants a military conflict

Freak snowstorm hits Moscow

The snow falling on the ground does not melt immediately

NATO wants Ukraine to fight until victory, it is unrealistic — Hungarian foreign minister

Peter Szijjarto pointed out that NATO is crossing its own red lines by stating that "the war in Ukraine is our war"

US begins Astral Knight 2024 exercise in Europe involving 5,000 troops — Pentagon

The purpose of the exercise is to strengthen collective air and missile defense in Europe

Ukraine’s economy to fall into deep coma without West’s support — Russian MFA

According to Maria Zakharova, the Kiev regime is nothing else but "a huge global laundering operation for the transfer of tens and hundreds of billions of dollars for unknown purposes and no one knows where"

Ten powerful solar flares erupt from Sun over past day

Some of those flares disrupted radio communications on the short wave

Putin to participate in EAEU summit — his first international event of new term

A traditional friendly dinner for the heads of CIS delegations took place on Tuesday night

Hamburg branch of AfG seeks to expel party member over trip to Russia as election observer

Olga Petersen had earlier been kicked out AfG’s parliamentary group

Appeal for Western troops posted on Ukrainian president’s website

A petition needs to be signed by at least 25,000 people to be referred to the president for consideration

Putin may hold bilateral meeting with Lukashenko in Kremlin later on Wednesday

Before the EAEU summit, the two leaders held a brief conversation

Five workers wounded during Ukrainian strike on oil storage facility in Lugansk

Leonid Pasechnik also said the strike "damaged power lines, disrupting electricity supplies to nearby houses"

Ukrainian army leaving positions near Avdeyevka over Russia’s incessant gunfire — POW

The escape gives only a few a chance to survive as frequently incessant Russian artillery accurate strikes rule out this option for Ukrainian troops, Yury Yurechko noted

IMF warns against violations related to use of Russian assets for helping Ukraine

Deputy managing director of the International Monetary Fund Gita Gopinath said that rebuilding mutual trust among countries requires a lot of time and effort and called for preserving "some of the enormous gains from economic integration"

IN BRIEF: Unity, care for people, country-civilization: Putin’s inaugural speech

The atmosphere in society has changed, now "reliability, mutual responsibility, sincerity, decency, nobility and courage" are highly valued, the Russian leader stressed

Russia wants no country to interfere in its election process — Kremlin spokesman

"We elect out parliament. We elect our president. We vote for the president or don’t want to vote for the president. And we insist that we have the right to do it the way we want to do it," Dmitry Peskov emphasized

Euroclear fighting over 100 lawsuits in Russian courts against investors demanding refund

According to Euroclear's new chief executive Valerie Urbain, the likelihood that the depository will win these cases is quite low

Russian lawmaker sees 'scare effect' in West as Russia prepares for nuclear drills

Vladimir Chizhov insisted that the drills do not mean "the Russian side is ready or intends to use these weapons immediately"

Rally organizers plotting riots involving volunteers from Ukraine — Georgian intel agency

The State Security Service claimed that foreign instructors were training protesters to stage provocations against police and create chaos in the country

Putin signs decree setting Russia’s development goals for 2030

The decree is titled On the National Development Goals of the Russian Federation until 2030 and for a Longer Term until 2036

Putin’s inauguration kicks off in Kremlin

The main event will be held at the Grand Kremlin Palace but parts of it will take place outside at Cathedral Square where the Kremlin Presidential Regiment will march following the ceremony

Xi Jinping arrives in Serbia on his first visit in eight years

Chinese President began his visit on the day marking the anniversary of the bombing of the Chinese embassy in Belgrade by NATO aircraft

China supports Serbia in defending its sovereignty on Kosovo issue — Xi

Xi Jinping is on a state visit to Serbia on May 7-8

Ukraine loses several hundred servicemen near DPR’s Novopokrovskoye due to lack of defense

It is noted that any Ukrainian activity on this section of the front is immediately suppressed by Russia’s precise and coordinated actions

Press review: Russia flexes nuclear muscle and Israel signals imminent offensive in Gaza

Top stories from the Russian press on Tuesday, May 7th

Ukraine approves bill on drafting convicts for military service

279 parliament members had voted in favor of the document

Aurus Merlon electric motorcycle available for pre-order — acting Deputy PM

The Aurus Merlon made its public debut at the inauguration of the Russian President

Belgium explains absence of ambassador at Russian president’s inauguration ceremony

The European Parliament adopted a resolution at a plenary session in Strasbourg on April 25 alleging that the recent presidential election in Russia was undemocratic

Germany’s recalling ambassador to Russia another unfriendly step, diplomat says

According to Maria Zakharova, Berlin’s accusations of Moscow in the alleged ongoing cyberattacks were made in the "highly likely" style

US trying to destabilize situation in India ahead of general election — Russian diplomat

The general election being held in the country from April to June will be the largest voting ever taking place in the world with 968 million registered voters, 14 million election commission employees, and 1.2 million polling booths

Macron denies death of French troops in Ukraine out of fear of protests — SVR head

According to Sergey Naryshkin, the French Army is "visibly concerned" over the growing number of French citizens killed in Ukraine

Pashinyan arrives in Moscow for summit, meeting with Putin

Nikol Pashinyan will chair the Supreme Eurasian Economic Council summit and then meet with Russian President Vladimir Putin

Southern neighbors of US to regain stolen lands — Russian Security Council’s secretary

Nikolay Patrushev speculates that country may split into the North and the South again to get back to its original shape

Detention of US soldier in Russia’s Vladivostok has no relation to espionage — diplomats

Russian Foreign Ministry’s mission in Vladivostok that "not following the case of the US citizen closely"

Russia praises Xi Jinping’s idea about peaceful summit on Ukraine

Maria Zakharova pointed out that Beijing adheres to a balanced position in the context of the events unfolding in Ukraine, "perfectly understands both historical and geopolitical reasons for the conflict"

FSB declassifies documents about Nazi Germany’s crimes in Crimea

As part of the No Limitations Period project, the FSB department for Crimea and Sevastopol declassified archival documents about the Great Patriotic War, including reports, reconnaissance data, protocols of interrogations of German captives

Aerospace Forces receive new Su-35S fighters

Su-35S have passed ground and flight trials and flew from Komsomolsk-on-Amur to the deployment airfield

Kiev meddling in Russia’s domestic affairs by calling Putin’s presidency illegitimate

"It was another blatant attempt to interfere in the internal affairs of our country and it was definitely orchestrated by the West with the use of the Kiev regime as its tool," Maria Zakharova noted

Arms supplies to Kiev unlikely to drastically change situation on battlefield — US expert

In Peter Kuznick opinion, despite Ukrainian President Vladimir Zelensky's assertions, "Ukraine is not going to drive every Russian soldier from the country"

Belarusian president sees aggravating military situation at western, southern borders

"Remarks of war and nuclear strikes can already be heard from certain figures," the Alexander Lukashenko said

French military already present in Donbass — French journalist

Christelle Neant said that the Ukrainian armed forces is drafting people with no military experience as part of its mobilization campaign and sends them to the frontline after "just two or three weeks of training"

UK announces expulsion of Russian defense attache, new diplomatic visa restrictions

According to Home Secretary James Cleverly, this is a message to Moscow in response to its actions allegedly aimed at undermining British assistance to Ukraine

Aleksandar Vucic greets Chinese leader at Belgrade Airport

The ceremony on the occasion of the visit of the 400-strong Chinese delegation will take place at Palata Srbije

Russian space agency still in talks on launching two Luna-27 mission spacecraft

"The plans are the same - we are planning to launch," Roscosmos Director General Yury Borisov told

Russian troops liberate two communities in Ukraine operation over past day

Battlegroup Center units fully liberated the settlement of Novokalinovo in the Donetsk People’s Republic and battlegroup West units fully liberated the settlement of Kislovka in the Kharkov Region

Russian diplomat slams Western ambassador for being absent from Putin’s inauguration

Maria Zakharova also asked a rhetorical question about what these countries’ new ambassadors would do when they have to hand over their credentials to the president

Russia vows not to deport Ukrainian citizens missing ‘green card’ deadline

The Interior Ministry said that this procedure does not cover the citizens who were released from imprisonment, who pose a threat to national or public security, who presented forged IDs or reported false information

Ukrainian shelling leaves female civilian wounded in Gorlovka, mayor says

In addition, two of the city’s neighborhoods lost power

Russian diplomat accuses EU spokesman of 'inciting terrorism' with Crimean Bridge remarks

According to Maria Zakharova, it is shocking that the statement was made by a European official who "in general speaks on behalf of the entire European Union"

Senior Russian diplomat, Libyan general discuss ensuring Libya’s sovereignty

"During a thorough exchange of views on the settlement of the military-political crisis in Libya, the focus was on the task of uniting all patriotic political and religious forces in the interests of ensuring the unity, territorial integrity and sovereignty of the Libyan state," the ministry said

FACTBOX: Russian President Vladimir Putin’s biography

Since June 12, 2013, Putin has been the leader of the non-governmental movement All-Russia People’s Front, created at his initiative as a coalition of social and political forces

FACTBOX: What is known about string of blasts at Ukraine’s power facilities

According to the Russian Defense Ministry, the strikes were carried out with drones as well as sea-and air-launched precision weapons, including Kinzhal hypersonic ballistic missiles

Kiev forces view journalists wearing 'press' vests as primary target — war reporter

Christelle Neant recommended using small "press" labels in order to help Russian troops identify media workers

Musk's assertions about ancient Martian civilizations could hold true — Roscosmos

Earlier on Tuesday, Elon Musk spoke at a conference in Los Angeles, during which he suggested that humanity could find evidence of ancient civilizations existing on Mars

Russia hammers Ukrainian energy, military sites in retaliatory strike — top brass

The Ukrainian army’s losses in the Kupyansk direction over the past 24 hours amounted to 55 personnel and two 122mm D-30 howitzers, it specified

Ukrainian companies report damage to energy facilities

Meanwhile, the Ukrenergo company reported that explosions had damaged an energy facility in central Ukraine

France not at war with Russia — Macron

"We are also not seeking a change of power in Russia," the French leader underscored

Australian Navy’s destroyer, helicopter impede Chinese drills in Yellow Sea — top brass

The Australian side "calls black white and lays the blame on someone else" in its comment on the incident, Zhang Xiaogang noted

Russia may strike Britain's military facilities if London's threats materialize — MFA

Maria Zakharova described British Foreign Secretary David Cameron’s remark that London considered it legitimate for the Kiev regime to use British weapons for strikes on Russian territory as "something absolutely insane"

Russia to join ranks of top four global economies — presidential decree

The government is tasked to present eleven new National Projects by September 1 of this year

Double standards with regard to Russia make US look pathetic — experts

As the conflict in Ukraine continues, "the global situation grows more dangerous by the day," Peter Kuznick said

Putin will now use restyled Aurus car — Kremlin

Putin made the first trip on the Aurus exactly six years ago, on May 7, 2018, when he also departed to the inauguration