Prime Minister of the Republic of Srpska Radovan Višković participated yesterday in Moscow in a panel discussion entitled “Global Oil and Gas Market: Navigating a Period of Turbulence”, which was held as part of the Sixth Russian Energy Week.
The speakers at the panel in addition to Prime Minister Višković were Deputy Prime Minister of the Russian Federation Aleksander Novak, Minister of Energy of Pakistan Muhammed Ali, Minister of Oil of Iran Javad Oji, Vice President of Venezuela Delsi Rodriguez and the Minister of Energy of Azerbaijan Perviz Shahbazov.
Prime Minister of the Republic of Srpska Radovan Višković emphasized in his speech that Republic of Srpska showed its strength by resisting the introduction of sanctions against the Russian Federation.
“We condemn the policy of sanctions which causes enormous damage to the citizens and economies of those against whom were imposed but also, indirectly, to the countries that impsoed them”, Prime Minister Radovan Višković said and stressed that there were no stabilization without Russian energy sources and that the future of Europe was almost impossible without Russian energy sources in that area.
Prime Minister Radovan Višković thanked the Russian Federation, President Putin and the Government of the Russian Federation for their understanding towards the Republic of Srpska, because in the previous period, when prices on the European stock exchanges rose enormously, it received gas at market prices before the sanctions.
The panelists agreed that the global oil and gas market was once again going through difficult times under the pressure of geopolitical factors. Furthermore, it has been underlined that the sanctions against the Russian Federation have caused an imbalance that had negative impact on economies around the world and already led to galloping inflation in many countries.
On the other hand, as stated during the panel, for Russia, which is one of the leaders in the global energy markets, this situation represented a serious challenge, but at the same time opened up new opportunities.
A constructive one-and-a-half-hour discussion at this panel attempted to answer the questions on how the global geopolitical crisis affected the world oil and gas market and what are the forecasts for its development in the coming years; how Russia adapted to new conditions; what is the role of OPEC (Organization of Petroleum Exporting Countries) and GECF (Gas Exporting Countries Forum) in the future world economy; what steps and measures countries are taking to restore stability and whether the environmental agenda remained relevant in current situation.