Free Republic

The Kremlin said oil prices do not affect its national security decisions after U.S. President Donald Trump linked lower prices to Russia wanting to settle the Ukraine war. Dmitry Peskov, spokesman for Russian President Vladimir Putin, responded to Trump's remarks during a press briefing on Tuesday morning. Peskov said Russia will continue to work within the OPEC+ format on managing oil prices, the state news agency TASS reported. -snip- Trump had told reporters in the Oval Office on Monday: "I think Russia with the price of oil right now, oil has gone down, we are in a good position to...

Russia's oil price in roubles has fallen to a two-year low below the 4,000 rouble per barrel mark and some 40% lower than planned in the federal budget, data showed, piling pressure on the Kremlin, already saddled with a burgeoning budget deficit. -snip- According to Reuters calculations, the average price of Russia's mix of Urals and ESPO blends dipped on May 2 to $48.92 per barrel, or 3,987 roubles, which is more than 40% below the 6,726 roubles the government had originally planned for this year. That's the lowest since May 2023, according to Reuters data. It is also still...