Russia will join OPEC in a new status

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Photo: Sergei Karpukhin / Reuters

OPEC countries and States that are not members of the organization, decided to continue the cooperation on a permanent basis, organizing the Alliance. On Monday, February 11, reports “Interfax” with reference to the draft Charter of the future Union.

OPEC will play in the Alliance supporting organizations. It is assumed that all Alliance members will voluntarily comply with the commitments made at the highest level. It will not create between the parties any rights and obligations of a legal nature.

The right of countries to manage their natural resources will not be limited, as well as measures for the implementation of development plans, including climate change and the environment. Chairmen for the Ministerial meetings are going to define the alphabet.

The declared purpose the establishment of an intergovernmental platform for co-maintaining the stability of the oil market and technological cooperation. Also the Alliance should support measures aimed at long-term use of oil and reduce pollution in its production and use.

The mechanism of the new organization is planned to discuss at the next OPEC meeting+ March 18 in Vienna. Earlier it was reported that Saudi Arabia proposed the reform of OPEC, to the new format, the cartel worked closely with a group of countries, headed by Moscow.

Video, photo All from Russia.

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