Trump vows to slash oil prices to halt Ukraine conflict

During a remote speech in Davos, President Trump mentioned that Saudi Arabia will invest at least 450 billion pounds in America.

"I will appeal to the crown prince, who is, by the way, a fantastic person, to round it up to 750 billion pounds," Trump remarked. A moment later, he added that he intends to ask Saudi Arabia, as well as OPEC (Organisation of the Petroleum Exporting Countries), to lower the prices of raw materials.

"It will be lowered and frankly, I'm surprised it didn't happen before the elections. If the price drops, Russia's war with Ukraine will end immediately! Currently, the price is high enough for this war to continue. We need to lower the price of oil, we need to end this war," Trump said.

"We need to lower the price of oil and, in this way, end the war. It should have been done a long time ago. They (Russia) are largely responsible for what is happening. Millions of human lives have been lost," he repeated.

"It is so important to do this because it's an absolute field of death, millions of soldiers are dying. No one has seen anything like this since World War II. They are lying dead in the fields (...) there are millions of Russians and millions of Ukrainians," he said.

The US President intends to urge all NATO countries to increase defence spending to 5 per cent of GDP, which he stated should have happened years ago.

"It was only 2 per cent and most countries were not paying until I showed up. I insisted they pay, and they did because the United States was, in fact, making up the difference at that time, and it was unfair to the United States. But many, many things have been unfair to the United States for many years," Trump declared.

He also said that he "hopes" his efforts to end the war in Ukraine are underway.