Russia, Saudi Arabia not engaged in price wars - Kremlin

Russia, Saudi Arabia not engaged in price wars - Kremlin
  • Clock-gray 15:16
  • calendar-gray 20 March 2020

Russia and Saudi Arabia are not engaged in any price war on the oil market, the global situation is unfortunate for oil prices, Kremlin Spokesman Dmitry Peskov said Friday, APA reports.

"Russia is not in any war with anyone and we proceed based on the statement by the [Saudi] royal family that Saudi Arabia is not engaged in price wars either," Peskov told reporters when asked to comment on a recent statement by LUKOIL vice president, Leonid Fedun, who suggested there was such a conflict.

"There are no price wars between Russia and Saudi Arabia. There is a price situation that is unfortunate for many countries, which was triggered, we have mentioned these factors. We have a good relationship with Saudi Arabia, and we do not think anyone should meddle in that," Peskov said.

The spokesman declined to comment on any potential sanctions, calling reports about them "a seasonal flare-up, triggered by the coronavirus, among those who suffer from russophobia."


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