Vladimir Putin Says $60 Oil ‘Absolutely Fine’

Wednesday, 28 November / Bloomberg

Russian President Vladimir Putin delivering a speech during a session of the VTB Capital Investment Forum "RUSSIA CALLING!" in Moscow, Russia, said current oil prices around $60 a barrel are “absolutely fine” for his country, adding that Moscow is ready if needed to work with OPEC on stabilizing the market after a major drop. Two weeks ago, Putin said a level of $70 suited Russia.

He pointed to the success of the OPEC+ agreement on output cuts, singling out Saudi Crown Prince Mohammed bin Salman for praise.

Putin says Russia will supply soy beans, poultry meat to China.

President Vladimir Putin said on Wednesday that Russia would supply soy beans and poultry meat to China and that the United States had effectively given up on that market.

Putin was speaking at the VTB Capital Investment Forum "RUSSIA CALLING!" in Moscow.

Putin: instability forcing countries away from dollar settlements.

President Vladimir Putin said on Wednesday that Russia was not aiming to stop settling deals using the U.S. dollar, but that instability in dollar-based settlements was forcing many world economies to think about moving to non-dollar settlements.

Speaking at a conference in Moscow, Putin also said that Russia was actively working on a system that would be independent from the SWIFT global payment system, but added that Moscow would not make any sudden moves that might hurt itself.


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