Russian Foreign Minister Sergey Lavrov and Saudi Foreign Minister Faisal bin Farhan Al Saud reaffirmed their commitment to OPEC+ cooperation in Manama, as Washington deployed military forces in the Strait of Hormuz to curb fuel price surges. Meanwhile, Moscow announced that petroleum exports will be strictly limited to domestic surplus.
Global market
Russian Foreign Minister Sergey Lavrov and Saudi Foreign Minister Faisal bin Farhan Al Saud confirmed plans to continue OPEC+ alliance cooperation during talks in Manama. In maritime transit, US Vice President JD Vance stated that US military operations in the Strait of Hormuz aim to prevent gasoline price spikes and secure supply chains. In nuclear energy, Turkish Energy Minister Alparslan Bayraktar announced talks for new nuclear plants with Russia, China, Canada, and South Korea. Concurrently, protests over surging fuel costs spread from France to Italy, where demonstrators clashed with police in Milan and damages to 1,500 French stores exceeded hundreds of millions of euros.
Russia & CIS
Russia will export petroleum products strictly from surplus volumes not needed domestically, declared Russian Vice Prime Minister Alexander Novak. In regional energy security, Ukrainian strikes on energy infrastructure cut off electricity to parts of Donetsk and Mariupol, though restoration efforts remain underway. Meanwhile, Leningrad Region Governor Alexander Drozdenko confirmed that overnight drone attacks caused no disruption to key energy or social infrastructure in the region.
Armenia
Turkey’s nuclear power negotiations and the reaffirmed OPEC+ alliance between Moscow and Riyadh shape long-term energy dynamics across the region. Despite European riots over fuel costs and regional supply risks, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Uninterrupted natural gas imports from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term agreements within the EAEU, shielding the domestic market from price shocks recorded by international market price assessments.