In a speech at the Davos forum, the US President vowed to put pressure on the rest of global producers and increase domestic oil and gas production to reduce prices.
United States President Donald Trump said that A drop in oil prices I can end the war in Ukraine. In a video conference at the Davos Forum on Thursday, Trump said oil-exporting countries would ask OPEC to lower the price of crude oil from the organization. “Right now the price is high enough for this war to continue,” he said.
OPEC consists of 12 oil-rich countries, Iraq, Iran, Saudi Arabia and the United Arab Emiratesrepresenting together around 40% of world supply oil. Their weight as a bloc means they can greatly influence the price of oil by increasing or decreasing its production.
Trump has vowed to pressure Saudi Arabia and OPEC into landing this deal, suggesting that sending economic measures rather than military aid could be the key to ending the conflict.
will talk to Putin
The president, who recently acknowledged Work directly with the Russian presidentVladimir Putin to end the war. Although he did not offer details about how peace would be negotiated, Trump insisted Ukraine was ready to reach a deal.
The feasibility of Trump’s strategy is unclear. Russia has endured numerous sanctions from the West since its large-scale invasion of Ukraine began almost three years ago. Oil had been Russia’s largest export to the United States, but This trade is reduced to zero in 2023.
Iran may oppose plan
Moreover IranianThe member of OPEC and its ally Russia may oppose the plan proposed by Trump. However, the new president aims I can lower global prices, thus putting pressure on Russia, This will be subject to reduced crude oil sales.
In a speech yesterday, Thursday, Ukrainian President Volodymyr Zelensky insisted on asking his allies: “The main thing is not to stop and continue to press Russia, which is the only entity that wants this war. Energy resources and especially oil, they are the most important for peace and real security “It’s one of the keys,” he said.
“Europe needs to work more with the United States and other partners of the world regarding energy resources, not with Russia.” Earlier this week, Trump threatened to impose “high levels of taxes, tariffs and sanctions” on Russia if Putin did not reach a deal to end the war.
