New Delhi: US President Donald Trump, during a virtual address at the World Economic Forum in Davos, Switzerland, urged Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices. He contended that a reduction in prices could facilitate an immediate resolution to the ongoing conflict between Russia and Ukraine.
Expressing his surprise that such action had not been taken prior to his election, Trump stated, “I am also going to ask Saudi Arabia and OPEC to bring down the cost of oil. You have to bring it down, which, frankly, I am surprised they didn’t do before the election. That didn’t show a lot of love by them not doing it. I was a little surprised by that. If the price came down, the Russia-Ukraine war would end immediately.”
In addition to advocating for lower oil prices, the Republican leader expressed a desire for a decrease in interest rates, suggesting that OPEC nations bear some responsibility for the current situation in Ukraine.
Currently, the price of oil is sufficiently elevated to prolong the conflict. It is imperative to reduce oil prices in order to bring an end to the war. This action should have been taken much earlier. Those in power bear a significant degree of responsibility for the ongoing situation, which has resulted in the loss of millions of lives. A decrease in oil prices would prompt me to advocate for an immediate reduction in interest rates, which should also be reflected globally, Trump stated.
Prior to his address at Davos, Donald Trump reiterated the necessity for an urgent resolution to the conflict between Russia and Ukraine, cautioning about potential economic repercussions for Russia, including the imposition of “taxes, tariffs, and sanctions.” Trump also highlighted his enduring respect for the Russian populace and his historically positive rapport with President Vladimir Putin.
“I have no intention of harming Russia. I hold a deep appreciation for the Russian people and have maintained a strong relationship with President Putin, despite the unfounded allegations from the Radical Left regarding Russia. It is crucial to remember that Russia played a vital role in our victory in the Second World War, sacrificing nearly 60 million lives. With that context, I intend to extend a significant favor to Russia, whose economy is struggling, and to President Putin,” Trump remarked in a post on Truth Social.
The conflict commenced in January 2022 following Russia’s invasion of Ukraine, which occurred after Ukraine’s decision to pursue NATO membership. Russia has insisted on receiving a legally binding assurance that NATO will refrain from any military operations in Eastern Europe and Ukraine. President Putin has characterized Ukraine as a proxy of the West.
Since the onset of the war, over 14,000 civilians have perished, with millions either displaced within Ukraine or having sought refuge in other countries. This figure does not account for the military casualties sustained by both nations.
