U.S. President Donald Trump wants to push for lower global oil prices, which, in his opinion, will help end Russia’s full-scale invasion of Ukraine.
Donald Trump stated this in a speech at the World Economic Forum in Davos on January 23.
Trump announced that he was going to ask Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to “lower oil prices.”
“It needs to be lowered—which, to my surprise, they didn’t do before the election (of the US president—Ed.)… If the price fell, the Russian-Ukrainian war would end immediately. Right now the price is quite high, so the war will continue,” Donald Trump said.
The U.S. president believes that a reduction in the price of oil was necessary “a long time ago.”
He also held Saudi Arabia and OPEC partially responsible “to some extent for what is happening” in Ukraine, where “millions of people are dying.”
Oil and gas exports are one of the main sources of revenue for the Russian budget amid sanctions following the full-scale invasion of Ukraine. Russia uses oil profits to fund its war against Ukraine.
The day before, Trump said that he was ready to consider tougher sanctions against Russia if it did not agree to negotiate an end to the war in Ukraine.
Later, he demanded that Russia “make a deal” to end the war in Ukraine, threatening to increase sanctions against Moscow otherwise.
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