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Trump with vital direction, urges to cut oil prices, another aim behind

Published Jan 24, 2025|521

Trump with vital direction, urges to cut oil prices, another aim behind

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WASHINTON: US President Donald Trump has asked Saudi Arabia and other oil-exporting countries to reduce oil prices as soon as possible. Trump said that this is essential to end the war between Russia and Ukraine. Trump called for a reduction in oil prices while virtually addressing the World Economic Forum in Davos, Switzerland.

'I am demanding Saudi Arabia and other OPEC countries to reduce oil prices as soon as possible. You should do it. To be honest, I am surprised that they did not reduce prices before the US presidential election. If oil prices come down, Russia will end the war in Ukraine soon. OPEC countries are to some extent responsible for what is happening in Ukraine now. Millions of lives are being lost there. Along with the reduction in oil prices, interest rates around the world should also come down,' Trump demanded.

Russia is the world's leading oil producer. After the US and European countries-imposed sanctions on Russia following the war, Russia has been selling oil to countries including India at reduced prices. Russia's main source of income is selling oil in this way. Trump believes that if OPEC countries lower oil prices, countries that present buy oil from Russia will buy oil from OPEC, and Russia, whose income will decrease, will be forced to withdraw from the war as soon as possible.

During the speech, Trump also reminded Russia of the economic consequences that the war is having on it through taxes, tariffs, and sanctions. Trump also clarified his long-standing relationship with Russian President Putin and the people in his speech.