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Free AccessKremlin-No Comment On Potential Xi Visit; Putin Could Attend G20
Wires carrying comments from Kremlin spox Dmitri Peskov, stating that it has 'nothing to say' on the Reuters report that Chinese President Xi Jinping could visit Moscow for talks with President Vladimir Putin as early as next week. Peskov said there was nothing to say, and that announcements on such visits are usually coordinated.
- Asked on India reportedly abiding by the rulesof the G7-imposed oil price cap on Russia, Peskov states that 'We will be guided by our contracts with India, not news reports.' Last week, Peskov stated that Russia did not recognise any price cap on Russian oil, saying that "We do not and will not recognise any cap. We are working so that this system does not harm our own interests."
- Russia remains keen not to antagonise India. The country has fastidiously maintained its neutral stance in the war on Ukraine, abstaining in UN votes and refusing to condemn Russia's actions despite strong overtures from the West towards PM Narendra Modi's gov't. The loss of Indian demand for hydrocarbons would dent Russia's coffers, meaning even if India does abide by the price cap Moscow is unlikely to criticise or punish Delhi's actions.
- Kremlin refused to rule out Putin potentially attending the G20 summit in India in late 2023. Putin did not attend last year's G20 summit in Bali, Indonesia. Should Putin attend it could spark a mass boycott by Western leaders, or alternatively see them seek to present a united front against the Russian leader in person.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.