According to Sorokin, who spoke at the opening session of the meeting in Moscow, most of the markets are still open, and the Russian industry is otherwise quite efficient. The demand for oil and oil products has not changed and stands at about 100 million barrels daily.

In addition, Moscow representative noted that much of the world does not support the Western countries’ statements to impose artificial restrictions because it threatens the global balance of supply and demands in a series of industries.

The Valdai International Discussion Club was established in 2004. It is named after Lake Valdai, located close to Veliky Novgorod, where the Club’s first meeting took place.

Since then, the Club’s meetings have been held annually in different locations. In addition, its regional conferences, including the Asian, Middle Eastern, Russian-Chinese, and Euro-Atlantic dialogues, have drawn considerable attention.

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