A delicate balancing act
The on-going conflict in Ukraine has sent shockwaves through global energy markets, impacting everything from international relations to commodity prices.
Russian President Vladimir Putin on Monday held a telephonic conversation with his US counterpart Donald Trump at the initiative of the US side, discussing issues related to the Group of Seven (G7) Summit and oil markets, according to the Kremlin.
Kremlin said in a statement, “Trump informed Putin about his idea of holding a G7 summit with the possible invitation of the leaders of Russia, Australia, India and South Korea”.
The importance of enhancing the bilateral dialogue on strategic stability and confidence-building measures in the military sector was noted.
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Both the leaders also addressed world oil market developments in the context of implementing the OPEC+ agreement.
Putin and Trump also touched upon space cooperation and fighting coronavirus, agreeing to continue contacts at various levels, according to the statement.
Last month, the two leaders exchanged greetings of the 75th anniversary of the Nazi defeat in World War II, emphasizing the historic significance of the WWII alliance between our peoples that allowed (us) to defeat the common enemy.
Earlier in April, Trump and Putin had discussed efforts to combat COVID-19 and ensure global energy market stability during a phone conversation.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, reached earlier a tentative agreement to cut production to stop a market free-fall amid the coronavirus pandemic.
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