Greece Stresses Saudi Role in Balancing Oil Markets, Respects OPEC+ Decision

Greece Stresses Saudi Role in Balancing Oil Markets, Respects OPEC+ Decision

Greek Minister of Development and Investment Adonis Georgiadis said the diversification of energy sources was the European Union’s most important priority.

He noted that the world would never return to the previous situation, even if the Russian-Ukrainian war ended.

In this regard, Georgiadis stressed that all European countries would try to find many other sources of energy, to stop depending on Russian gas, revealing a plan to launch natural gas carriers to Europe through his country, in addition to the Azerbaijan pipeline.

In an interview with Asharq Al-Awsat on the sidelines of the Future Investment Initiative forum in Riyadh, the Greek minister said that Saudi Arabia, as part of the Group of Twenty, could play a major role in stabilizing the global economy.

He added that Greece respected the recent OPEC+ decision, saying it was imperative to work towards maintaining market balance.

“We have to find a way to avoid recession… A good partnership will achieve possible solutions to curb the recession, which will be very bad for Western societies, because it will hamper investments, reduce consumption and harm the economy,” he remarked.

Saudi-Greek cooperation

Georgiadis noted that trade exchange between Riyadh and Athens was close to 1.4 billion euros annually, excluding oil.

“Our main ambition is to