ST. PETERSBURG, June 18. /TASS/. Energy markets are going through a turbulent patch due to the conflict between Iran and Israel, Russian Deputy Foreign Minister Alexander Pankin told reporters on the sidelines of the St. Petersburg International Economic Forum.

"Markets are always subject to the influence of so-called basic factors. Of course, [it is influenced] by this explosion in the Middle East," he said when asked about the impact of the conflict on energy markets. "Of course, the markets are now feeling certain turbulence."

"As for how to stabilize the energy market in general. On the one hand, we see efforts within OPEC+. On the other hand, we see how the United States is quite actively promoting the idea of its dominance in various markets," the official said. "We see that there are predictions that the demand for energy resources will fall. We see that in reality it is increasing."

"We, as Russia, are cooperating with everyone we can, whoever is ready. With the EU it is quite bad, as it does not hide its desire to push us to the sidelines in every possible way in the energy market through the oil price ceiling, bans and sanctions," Pankin said. "But the reasonable portion of the world's energy space does interact with Russia through various dialogues and communication."

The St. Petersburg International Economic Forum is taking place from June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the event. TASS is its media partner.