UAE defies US, Europe to reaffirm oil alliance with Russia

The United Arab Emirates (UAE) has underscored its commitment to an oil alliance with Russia, defying a Western push for the global sanctioning of Russia over the country’s long-running military operation in Ukraine.

Suhail al-Mazrouei, the UAE’s energy minister and a former president of the oil alliance, said on Monday that Russia, which exports roughly 10 million barrels of oil a day, is an important member of the global OPEC+ energy alliance and no producer could substitute its production.

"Unless someone is willing to come and bring 10 million barrels, we don't see that someone can substitute Russia," Mazrouei said during the Atlantic Council's global energy forum in Dubai.

The OPEC+ alliance has been following a plan for gradual oil production increases based on a deal struck during the height of the coronavirus pandemic lockdowns, when producers slashed output to make up for the loss in demand for fuel.

The oil prices have soared to around $120 a barrel, with the United States and several European nations calling on Persian Gulf Arab oil producers to do more to help bring down prices.

Mazrouei, however, said that the OPEC+ alliance was here to stay and shut down any suggestions that the UAE would break away from the pact and unilaterally increase production.

"Staying together, staying focused, and not allowing politics to kick into this organization ... we always believe that whatever we do as countries when it comes to production and to this work, it needs always to stay out of politics," he said.

The comments by Mazrouei come as Saudi Arabia and the UAE, two close US allies and leaders of OPEC+, have been constraining their criticism of Russia's military campaign in Ukraine, while also dodging demands from the US to increase oil output. 

MG