Kremlin: Russian Oil Remains Indispensable
The Kremlin has said Russian oil supplies remain indispensable to global markets, responding to a US decision to renew a sanctions exemption on Russian exports.
Kremlin spokesman Dmitry Peskov said Russia continues to act as a “responsible player” despite ongoing turbulence in global energy markets.
The administration of US President Donald Trump has allowed certain countries to continue purchasing Russian oil by sea on a temporary basis, a move aimed at easing a sharp rise in energy prices. Those increases have been driven largely by the conflict involving the US, Israel and Iran.
The decision has drawn criticism from some US lawmakers, who argue it is too accommodating towards Moscow amid the ongoing war in Ukraine.
Russia remains one of the world’s largest oil producers and exporters, giving it significant influence over global prices. According to Kirill Dmitriev, Russia’s envoy for international economic cooperation, the waiver could cover an additional 100 million barrels of oil.
That would bring the total volume affected to as much as 200 million barrels.