U.S. President Donald Trump was not obtained Cremlin President Vladimir Putin is seeking support from Saudi Arabia to agree to the end of the Ukrainian war.
In a speech on January 23 for business elites around the world in the World Economic Forum in Switzerland, Trump called Saudi Arabia and OPEC allies to increase crude oil production. This pushes crude oil prices and inhibits important revenue. Moscow’s war funding.
“I’m also going to ask Saudi Arabia and OPEC to lower the petroleum price. You have to reduce the price of crude oil, but I was surprised that they didn’t do it before the election. But I was a little surprised, and the war between Russia and Ukraine would soon end.
During the presidential election in 2024, Trump gave priority to ending the full invasion of Russia’s Ukraine for three years, and has been seeking a meeting with Putin since the November victory.
However, Kremlin believes that Putin has won the war, so there is no reason to stop the battle, so he will refrain from consulting with analysts.
While Ukraine is struggling to recruit troops, Russia has been acquiring territory of eastern Ukraine since the war in the war.
The day after becoming the president on January 20, President Trump did not know exactly what to target, but said it would impose additional sanctions to put Russia on the table.
The President repeatedly warned the next day, but the Russian government spokeswoman Dormitory Pescov said on January 23, the day before Trump’s speech at the Davos Conference, the Russian government said to President Trump’s remarks. I couldn’t see it. “
Under the Joe Biden administration, the predecessor of Trump, the United States imposed a wide range of sanctions on the Russian economy, including the oil industry.
The Russian economy is largely dependent on oil exports and accounts for more than 30 % of the federal budget revenue. If either Russian oil exports or crude oil prices decrease, it will burden the economy of the country, which has already been a problem.
However, further sanctions on the Russian petroleum industry, such as specifying the “shadow of the shadow” petroleum company in Russia’s largest oil company and Russia, can lead to a soaring global energy price unless other countries increase production.
Saudi Arabia and OPEC allies can quickly increase oil production. Saudi Arabia Currently, the United Arab Emirates (UAE) has a daily volume of about 3 million barrels, whereas a daily basis.
This surplus production capacity is the result of OPEC countries agreeing important production to support soaring crude oil prices.
Russia, a member of the OPEC+, has exported about 6.6 million barrels of oil and petroleum products per day.
Prior to the speech to the WEF participants, President Trump has talked with Prince Saudi Arabia in his first telephone talk with foreign leaders since taking office earlier this week.
According to the White House reading the call, they discussed the Middle East stability, fighting terrorism, and promoting trade.
Chris Wefer, a petroleum industry expert and founder of a macro advisory consulting company, pressed President Trump to increase its production to Saudi and other OPEC members and put pressure on Ukraine to Kremlin. He said he didn’t think he could do it.
“Saudi Arabia, the United Arab Emirates, or other OPEC producing countries have taken such political actions to Russia, the same OPEC plus member country, and have lost their export revenues, and gives a larger market. He is extremely unlikely to be astound, “he will share with US producers.”
He said, “OPEC oil -producing countries are still angry that the US government has completely ignored the US government when the US government has increased US oil production and exports in the shale revolution, and has completely ignored the market share.
Capital Economics’s chief climate and product economist David Oxlie said that Saudi Arabia has been “far away” from the United States, but Trump has built a strong bond with the country’s leadership.
“There are signs that the relationship is warm recently, and Trump is known to be a good relationship with the Crown Prince MBS and Saudi Public Investment Funds,” said Oxlie.
He added that Saudi Arabia was dissatisfied with the fact that other OPEC member states were producing beyond the assignments, and could “open a flood gate” to regain the global market share.
“This explicit invitation from President Trump may be a covered cover to open the plug,” he said.
By RFE/RL
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