Russia does not see major risks of OPEC+ deal breaking down after Arab countries cut ties with Qatar
MOSCOW. June 5 (Interfax) - Russia does not see major risks of a breakdown in the agreement to cut oil output between OPEC and non-OPEC countries after the United Arab Emirates, Bahrain, Egypt and Saudi Arabia cut off ties with Qatar, a source close to Russia's Energy Ministry told Interfax.
"We do not see major risks of the deal breaking down. For instance, Iran and Saudi Arabia severed diplomatic ties between each other at the start of 2016, but this did not affect the deal," the source said.
"But the issue will of course be discussed at the upcoming meeting of the ministerial monitoring committee in July," the source said.
An Energy Ministry representative declined to comment on the issue.
A number of media outlets reported about the breakdown in diplomatic relations between the United Arab Emirates, Bahrain, Egypt and Saudi Arabia with Qatar. The countries announced they were closing their diplomatic missions to Qatar, pulling out diplomatic personnel, and planning to end sea and air travel to Qatar. The countries accused Qatar of supporting terrorism, including Al-Qaeda and ISIS. The two organizations are banned in Russia.
