00:00The world's second largest oil exporter and unlike its Gulf competitors, it's safely outside the
00:06Iran-U.S.-Israel war zone. Russia is emerging as the one real winner of the conflict as it benefits
00:13from high oil prices. It gains new resources to finance its war against Ukraine as energy prices
00:21rise. It profits from the diversion of military capabilities that could otherwise have been sent
00:29to support Ukraine. Trump's administration is keen to boost world's supplies of oil so as to bring
00:36prices down after they spiked Monday to over a hundred dollars a barrel. The U.S. president told
00:42reporters that he'd had a very good call with his Russian counterpart and spoke about lifting sanctions
00:47while avoiding identifying whom with. So we have sanctions on some countries. We're going to take
00:53those sanctions off until this straightens out. Then who knows, maybe we won't have to put them on.
00:58There'll be so much peace. The Kremlin said the idea of lifting oil sanctions had not been discussed
01:03in detail with Washington. The move, though, is opposed by Europe, as it would complicate efforts
01:09to deprive Moscow of revenue for its war in Ukraine. Vladimir Putin on Monday offered European countries
01:15access to Russian oil and gas in return for their cooperation.
01:21If European companies and European buyers suddenly decide to reorient themselves and provide us with
01:28long-term, sustainable cooperation, free from political pressures, then yes, of course,
01:34we're ready to work with Europeans too.
01:41After being effectively cut off from its European market following the Ukraine war,
01:45Moscow turned to India and China to sell its oil. Last week, amid the escalating conflict and less
01:52than a month after India agreed to stop buying Russian oil in exchange for a U.S. trade deal,
01:57Washington said it could buy it again for 30 days.
Comments