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In a virtual address to the World Economic Forum in Davos, Switzerland, Trump expressed surprise that such action had not been taken earlier, especially before the US election
US President Donald Trump has called on Saudi Arabia and other OPEC nations to reduce oil prices, claiming that doing so could immediately end the ongoing war between Russia and Ukraine. In a virtual address to the World Economic Forum in Davos, Switzerland, Trump expressed surprise that such action had not been taken earlier, especially before the US election.
He stated that lower oil prices could help end the conflict, which started when Russia’s invasion of Ukraine began in January 2022.
Trump argued that high oil prices are contributing to the continuation of the war, as they allow Russia to fund its military operations. He criticised OPEC nations for not lowering oil prices sooner, suggesting they bear some responsibility for the war and the loss of millions of lives. Trump also emphasised that if oil prices fell, interest rates should decrease as well, both in the US and globally.
In addition to his comments on oil, Trump reiterated his desire for an immediate resolution to the Russia-Ukraine conflict, warning of potential economic consequences for Russia, including taxes, tariffs, and sanctions. He also expressed his admiration for the Russian people and his past positive relationship with President Vladimir Putin, despite criticism from the "Radical Left."
The Russia-Ukraine war has caused widespread devastation, with over 14,000 civilian deaths and millions of people displaced. The conflict began when Ukraine’s decision to join NATO angered Russia, leading to an invasion. Since then, the war has caused significant human and economic losses for both countries involved.