CryptoWorld News reports that the Kremlin stated on Wednesday that despite the UAE's announcement to withdraw, Russia still plans to stay in OPEC+ and hopes the group continues to operate. The UAE announced its withdrawal from OPEC and OPEC+ on Tuesday, amid an energy crisis triggered by the Iran war exposing divisions within Gulf countries. Kremlin spokesperson Peskov said that OPEC+ is an important organization that helps reduce volatility in energy markets and stabilize the market. Russia respects the UAE's decision and hopes energy dialogue will continue. Russia joined OPEC+ in 2016, and last year the group produced nearly 50% of the world's oil. The UAE is the fourth-largest oil producer in OPEC+, and Russia is the second-largest oil producer after Saudi Arabia.

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