By Amid the Iran and Israel war, a statement by Russian President Vladimir Putin has come to the fore. Putin has given instructions to 20 countries of the world. He has also said that there is no need to take any action. Let us also tell you which 20 countries Putin has given instructions to and what has he said in his instructions?
The Iran and Israel war is at its peak. Where Iran is not refraining from showing its power and threatening. On the other hand, Israel is also adamant on completely destroying Iran. For which it has spent billions of dollars in the last few days. Meanwhile, a statement by Russian President Vladimir Putin, one of the most powerful countries in the world, has come to the fore. Putin has given instructions to 20 countries of the world. He has also said that there is no need to take any action. Let us also tell you which 20 countries Putin has given instructions to and what has he said in his instructions? Let us tell you that Russia itself is embroiled in a war with Ukraine. In such a situation, the statement of the Russian President is considered very important.
Putin’s instructions to 20 countries
Russian President Vladimir Putin told the St. Petersburg Economic Forum on Friday that the conflict between Iran and Israel has not led to a significant increase in oil prices, and there is no need for the OPEC+ group of oil producers to intervene in the oil markets. Yes, there are a total of 22 countries in these OPEC Plus countries. Which also includes Iran. Iran is currently embroiled in a war. In such a situation, Russia’s instructions to its remaining 20 OPEC countries are very less.
These 20 countries include Algeria, Congo, Equatorial Guinea, Gabon, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, UAE, Venezuela, Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan.
Crude oil prices have increased
Investors remain uneasy due to the escalation of a week-long air war between Israel and Iran and uncertainty about possible US involvement, leading to a surge in oil prices, with Brent crude futures reaching their highest level since late January. Putin said the price of oil is now around $75 a barrel, while it was $65 a barrel before the conflict escalated. He said that crude oil prices have increased amid the current situation in the Middle East and the conflict between Iran and Israel. He said that in the opinion of our experts this increase is not significant. Iran is the third-largest producer among the members of the Organization of Petroleum Exporting Countries. Hostilities could disrupt its oil supply and cause prices to rise.
Production is being increased gradually
Putin also said that OPEC Plus – which produces about half of the world’s oil – is increasing oil production, but is doing so gradually, to ensure balance and “comfortable” prices in the oil market. He said, “We will all see together how the situation unfolds. There is no need to react immediately. A few days ago, Iraq’s Deputy PM had said in a statement that if the war between Iran and Israel continues for a long time, the price of crude oil can reach 200 to 300 dollars. If this happens, a massive explosion of inflation can be seen all over the world. Global inflation can be seen between 16 to 20 percent. Which will be very difficult for any powerful country in the world to handle.