Trump claims lower oil prices could halt Ukraine conflict
During his Friday speech in North Carolina, US President Donald Trump said that OPEC's lowering of oil prices could immediately end the conflict in Ukraine. The American leader also outlined his vision for resolving the international crisis.
At a conference at the airport in Asheville, Trump argued: "That will automatically stop the tragedy that's taking place in Ukraine. It's a butchering tragedy for both sides." However, the president did not specify his actions if the cartel did not respond.
Trump expanded on his concept by arguing that current high commodity prices are hindering the end of the conflict. The American president stated that if OPEC stopped making so much money and cut oil prices, the war would end immediately.
Donald Trump builds relations with partners
The day before the North Carolina appearance, Trump held his first phone conversation with Prince Mohammed bin Salman since his inauguration. The Saudi Crown Prince was willing to invest approximately £500 billion in the American economy over the next four years.
Trump did not rule out a visit to Saudi Arabia as his first overseas trip in his new term. However, the official White House statement did not specify whether oil prices were discussed during the conversation.
Controversies surrounding oil policy
Trump repeatedly criticised his predecessor, Joe Biden, for a policy that he believes enabled Russia to fund its invasion of Ukraine through high oil prices. Particular controversy was raised by OPEC's decision to reduce oil production shortly after the start of Russian aggression.
It is worth noting that despite these disruptions, the United States maintained its position as the world's largest oil producer, ahead of Saudi Arabia and Russia. Trump presented similar proposals during his virtual appearance at the World Economic Forum in Davos.
