Posted By Global Banking and Finance Review
Posted on May 6, 2025
MOSCOW (Reuters) -Oil prices play a crucial role in Russia's budget and the Russian economy overall, but Russian national interests take precedence above all else, Kremlin spokesman Dmitry Peskov said on Tuesday.
Peskov was commenting on remarks by U.S. President Donald Trump, who suggested that President Vladimir Putin might be more inclined to resolve the conflict in Ukraine following the recent drop in oil prices.
"Oil prices cannot be a factor that can influence Russia's attitude towards its national interests," Peskov said. "Russia's national interests are above all else, above any oil prices."
Russia, Peskov said, was working with OPEC+ to ensure prices remained at an optimal level.
"Of course, the international oil price is a very important factor for budget formation in our country and for the Russian economy as a whole," Peskov said.
"It remains relevant, and here, of course, Russia, as you know, has been working in the OPEC+ format for a long time to maintain prices at an optimal level. Excessively high prices and very low prices, of course, adversely affect the global economy as a whole, so this work continues here."
When asked about efforts to find a settlement to end the Ukraine war, Peskov said that work was continuing with the United States.
(Reporting by Dmitry AntonovWriting by Maxim Rodionov; editing by Guy Faulconbridge)
