By Gleb Bryanski<\/p>\n
ST PETERSBURG (Reuters) -Russia, the United States and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia’s investment envoy Kirill Dmitriev told Reuters.<\/p>\n
Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East that could disrupt crude supplies.<\/p>\n
Dmitriev, chief of Russia’s sovereign wealth fund, said there was a precedent for similar joint action in 2020.<\/p>\n
“There was an example when (Russian) President Putin, (U.S.)\u00a0President Trump and (Saudi) Crown Prince Mohammed bin Salman played a key role in stabilising markets,” Dmitriev said on the sidelines of the St Petersburg International Economic Forum.<\/p>\n
“It is early to talk about concrete joint action yet but based on an earlier precedent, such action is possible.”<\/p>\n
In the spring of 2020, as oil prices plummeted amid the COVID-19 pandemic, Trump brokered a deal with top crude producers Russia and Saudi Arabia to cut output and calm the markets.<\/p>\n
“Events in the Middle East create conditions for oil price rises. The dynamics of these events will define how dramatic this rise will be,” Dmitriev said.<\/p>\n
“The dynamics of such rises sharply reduce the possibility of further restrictions on Russia\u2019s energy sector,” he said, referring to European Union deliberations on tightening sanctions against Moscow.<\/p>\n
(Reporting by Gleb Bryanski; Writing by Lucy Papachristou; Editing by Mark Trevelyan)<\/p>\n","protected":false},"excerpt":{"rendered":"
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