close
close

Mondor Festival

News with a Local Lens

Sudani, Putin discuss energy cooperation
minsta

Sudani, Putin discuss energy cooperation

ERBIL, Kurdistan Region – Iraqi Prime Minister Mohammed Shia’ al-Sudani and Russian President Vladimir Putin held a telephone conversation on Thursday and discussed bilateral relations, with a focus on energy cooperation.

The two leaders “discussed bilateral relations between Iraq and Russia and explored ways to strengthen them to serve the mutual interests of the two friendly nations,” according to a statement from the Sudanese office.

“A mutual commitment was expressed to further expand traditionally friendly and mutually beneficial ties, in line with agreements reached during talks between” the two leaders in October 2023, according to a Kremlin statement.

“Particular attention was paid to the implementation of major energy projects,” the statement added, stressing that the two leaders also discussed “various aspects of joint work within the framework of OPEC+, which makes it possible to maintain the stability of the global oil market.

In October 2023, Putin received Soudani in Moscow where they also discussed the regional conflict in the Middle East and energy cooperation between the two countries.

In June, the OPEC+ alliance of oil-exporting countries agreed to extend its voluntary oil production cuts until the end of 2025 in a bid to stabilize global market prices.

In line with OPEC+ production cuts, Iraq announced in April 2023 that it was voluntarily reducing its oil production by 211,000 barrels per day.

Sudani’s office also noted Thursday that they “discussed energy-related issues, emphasizing the importance of coordination among all relevant countries within OPEC and the OPEC+ group to stabilize oil prices and gas.

Iraq and the Kurdistan Region share close economic ties with Russia, as a number of Russian oil companies operate both in the region and in the oil fields of southern Iraq. Lukoil, Gazprom Neft and Rosneft are among the main Russian oil and gas companies operating in Iraq and the Kurdistan region.

In March 2022, Iraq abstained from voting against Russia’s invasion of Ukraine in a United Nations resolution, demonstrating Baghdad’s desire to maintain relations with Moscow.