Russia remains actively engaged in the OPEC+ framework to help keep global oil prices at an optimal level, Kremlin spokesperson Dmitry Peskov told reporters.
“Of course, the international oil price is a crucial factor—not only for forming our national budget, but also for the overall health of the Russian economy. It remains highly relevant and important”, Peskov explained when asked how the Kremlin views the recent drop in oil prices in terms of its impact on the Russian economy and fiscal policy.
He reminded reporters that Russia has long worked within the OPEC+ alliance to support oil prices at what he called a “necessary and optimal” level. Peskov also noted that both excessively high and low prices can be harmful to the global economy, which is why Moscow continues to closely monitor market conditions.
According to data from the London-based ICE exchange, the price of Brent crude futures for July 2025 delivery fell below $59 per barrel—marking the first time it dipped below that threshold since April 9.
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Photo: official website of the President of the Russian Federation
Based on materials from TASS