Europe

France wants Iran and Venezuela to return to oil markets

France wants Iran and Venezuela to return to oil markets

France wants Iran and Venezuela, hit by U.S. sanctions, to return to oil markets to ease a Russian squeeze on energy supplies that has sent prices soaring, a presidential official said on Monday.

He also wants a planned mechanism to limit the price of oil to be as broad as possible and not limited to Russian production.

The French official also said that Ukrainian President Volodymyr Zelenskyy told G7 leaders on Monday that conditions were not right for negotiating with Russia and that he wanted to be in a position of strength before beginning any rapprochement.

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