Trump to demand lower oil prices to end war in Ukraine
US President Donald Trump aims to achieve a reduction in global oil prices, believing this would bring an end to Russia's full-scale invasion of Ukraine.
Trump announced at the World Economic Forum in Davos his intention to request Saudi Arabia and the Organisation of the Petroleum Exporting Countries (OPEC) to "lower oil prices".
"You’ve got to bring it [cost of oil] down – which, frankly, I’m surprised, they didn’t do before the [US presidential] election... If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough, so that the war will continue," Trump said.
In the US president's opinion, oil prices should have been reduced "long ago".
Trump also placed partial responsibility on Saudi Arabia and OPEC "to a certain extent for what’s taking place" in Ukraine, where "millions of lives are being lost".
Oil and gas exports remain one of the main sources of revenue for Russia's budget amid sanctions following the full-scale invasion of Ukraine.
Earlier, Trump stated that he was prepared to consider increasing sanctions against Russia if it does not agree to negotiations to end the war in Ukraine.
He later demanded that Russia "make a deal" to end the war in Ukraine, warning of tougher sanctions and tariffs against Moscow if it refuses.