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Maduro, Putin agree to take steps to raise oil prices

Russian President Vladimir Putin and his Venezuelan counterpart Nicolas Maduro agreed on Thursday to coordinate joint actions to encourage the rise of world oil prices, according to the Kremlin.

“In general, of course, during the meeting, both sides noted that the volatile oil prices do not meet the interests of the two countries and that, of course, the states should coordinate efforts in order to encourage prices to rise,” Kremlin spokesman Dmitri Peskov told reporters after the two leaders’ meeting in Beijing.

Peskov said the Russian president noted that the dynamics of oil prices could not be handled through certain actions, because they were influenced by market operations.

The spokesman explained that there were many factors that should be taken into account regarding this point, though he did not provide further details on whether the two leaders proposed considering any concrete measures during their meeting.

Both presidents are in Beijing to attend the grand military parade, organised by China on the 70th anniversary of the end of World War II.