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PM Draghi Discussed Creating 'Cartel' Of Oil Buyers w/Biden

ITALY

Following his meeting with US President Joe Biden at the White House, Italian PM Mario Draghi stated that he and Biden discussed creating a 'cartel' of oil buyers, and that they also talked about making a request to OPEC to boost oil production.

  • Draghi: "We must continue to support Ukraine and put pressure on Moscow, but we must also begin to ask ourselves how peace is built"
  • Draghi says that many gas importers already have accounts for rouble transactions with Gazprom. Calls the issue a 'grey area', adding that it is not clear what would be classed as a breach of sanctions re: rouble payments for gas.
  • Draghi on EU 'strategic autonomy': "There is a lot of duplication...[EU needs] a conference of all member states to rationalise military spending before we start thinking about increasing military spending. The two things will necessarily go together..."
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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