Donald Trump wants to obtain a drop in the price of oil to hit Russia in the portfolio and put pressure in the negotiations. The Kremlin replies that war does not depend on the price of a barrel.
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US President Donald Trump said the war in Ukraine could end thanks to a drop in oil prices.
Speaking by video connection to the Davos World Economic Forum on Thursday, Trump said that he would ask the organization of oil exporting countries (OPEC) to lower the price of oil, saying that it would end “immediately” to the large -scale invasion of Ukraine by Russia.
“Currently, the price is high enough for the war to continue. We must lower the price of oil and put an end to war,” he added.
OPEC is made up of 12 oil -rich countries, including Iraq, Iran, Saudi Arabia and the United Arab Emirates, which collectively represent around 40 % of the global oil supply. Their weight as a block means that they can considerably influence the price of oil by increasing or reducing production.
Trump is committed to putting pressure on Saudi Arabia and OPEC to lower oil prices, suggesting that economic measures, rather than military aid could be the key to ending the conflict.
The recently invested president also expressed his desire to engage directly with Russian President Vladimir Putin to end the war. Although he did not give details on how he would negotiate peace, Trump insisted that “Ukraine is ready to conclude an agreement”.
-The plausibility of Trump’s strategy is not clear. Russia has resisted a multitude of American and European sanctions since the start of its large -scale invasion of Ukraine, almost three years ago. Oil was the main export product of Russia to the United States, but this trade was reduced to nothing in 2023.
Iran, on the other hand, is both a member of OPEC and ally of Russia, and could oppose the plan proposed by Trump.
However, Trump also offers to order a new wave of drilling in the United States for petroleum and domestic gas, which could also lower world prices and put pressure on Russia.
In his night speech on Thursday, Ukrainian President Volodymr Zelenskyy said: “The essential is not to slow down oil production:” The main thing is not to slow down and to put pressure on Russia, the only entity who wishes this war.
“Energy resources, and in particular oil, are one of the most important keys to peace, real security,” he added. “Europe must work more with America and other partners around the world, not with Russia, with regard to energy resources.”
At the start of the week, Trump also threatened to impose “a high level of taxes, customs duties and sanctions” on Russia if Mr. Putin does not agree to end the war.
