Putin hosts United Arab Emirates leader for economic talks
Russian leader noted UAE president's support for OPEC+ decision to limit oil production
No peace in Ukraine until Putin withdraws Russian forces: Kurt Volker
Former U.S. Ambassador to NATO Kurt Volker discusses if it's time for Ukraine's President Zelenskyy to negotiate an end to its war with Russia on 'Varney & Co.'
Russian President Vladimir Putin on Tuesday hailed a recent decision by OPEC, Russia and other oil producing nations to limit production as key to stabilizing the global energy market, as he met the leader of the United Arab Emirates for talks on fostering economic ties.
Speaking at the start of his talks in St. Petersburg with Sheikh Mohammed bin Zayed Al Nahyan, the ruler of Abu Dhabi and the president of the United Arab Emirates, Putin hailed the ties between the two countries as important for regional and global stability.
Russian President Vladimir Putin, right, and President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, talk to each other during their meeting in St. Petersburg, Russia, Tuesday, Oct. 11, 2022. (Pavel Bednyakov, Sputnik, Kremlin Pool (AP Newsroom)
EU LEADERS STRUGGLE TO BRIDGE GAS PRICE CAP DIVIDE
"Despite all the difficulties that exist in the international relations today, ties between Russia and the United Arab Emirates are an important factor of stability in the region and the entire world," Putin said at the start of his talks with Al Nahyan.
The Russian leader noted Al Nahyan's support for the decision of the OPEC+ group that includes Russia to limit oil production to shore up oil prices, saying that "our decisions, our action, aren't directed against anyone."
President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan smiles while posing for a photo prior to his talks with Russian President Vladimir Putin during their meeting in St. Petersburg, Russia, Tuesday, Oct. 11, 2022. (Pavel Bednyakov (AP Newsroom)
EUROPE'S GAS CRISIS SET TO DEEPEN AFTER WINTER DRAINS RESERVES
Putin said: "Our actions are aimed at ensuring stability in global energy markets to make both consumers of energy resources and those who deal with production and supplies feel calm, stability and confidence, to help balance supply and demand."
The decision by OPEC+ to cut oil production by 2 million barrels a day has outraged the West, where many saw it as a move that would help Putin finance Russia's action in Ukraine. The production cut also risked saddling President Joe Biden and Democrats with rising gasoline prices just ahead of U.S. midterms
Russian President Vladimir Putin, right, and Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of Abu Dhabi Executive Council and chairman of Abu Dhabi Executive Office, pose for a photo prior to their talks in St. Petersburg, Russia, Tuesday, Oc (AP Newsroom)
UK WARNS OF THREE-HOUR WINTER BLACKOUTS IF GAS SUPPLIES FALL SHORT
The United Arab Emirates has maintained close business ties with Russia and sought to refrain from joining the sanctions imposed by the U.S. and other Western allies over Moscow's action in Ukraine.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Putin hailed Al Nahyan for mediation efforts that helped solve some "really sensitive humanitarian issues" in Ukraine. "I'm aware of your concern about the development of the situation and your desire to contribute to the settlement of all disputed issues, including today's crisis in Ukraine," Putin said.