Donald Trump, the U.S. president, called on Gulf countries to cooperate in reducing global oil prices to help end the war in Ukraine. Speaking at the World Economic Forum in Davos, Switzerland, on Thursday, Trump urged Saudi Arabia to increase its investment in the U.S. to $1 trillion.
Trump stated that lowering oil prices would immediately bring an end to the Russia-Ukraine war, arguing that the high oil prices are prolonging the conflict. He emphasized that Gulf nations should have taken such measures long ago, as they bear partial responsibility for regional developments.
During his campaign, Trump frequently highlighted the need to end the Ukraine war. Earlier this week, he warned that if an agreement on Ukraine is not reached soon, he would impose heavy taxes, tariffs, and sanctions on goods imported from Russia into the U.S.
Reuters reported that as Trump increases pressure on Moscow to end the war, Russian President Vladimir Putin expressed concern about the economic strain the conflict has placed on Russia, a country heavily reliant on oil and gas exports.
Trump also called on Saudi Crown Prince Mohammed bin Salman to increase Saudi investments in the U.S. from $600 billion to $1 trillion, calling the crown prince “an extraordinary man.” He expressed confidence that Riyadh would agree, citing strong relations between the two nations.
The ongoing conflict between Russia and Ukraine, nearing its third year, has no clear resolution in sight. Trump’s proposals highlight the interplay between global oil markets, geopolitical tensions, and economic strategies as potential levers to end the conflict.
Trump’s push for increased Saudi investment and his call to lower oil prices reflect his broader strategy of leveraging economic influence to achieve political goals. However, the effectiveness of these measures in addressing the Ukraine conflict and stabilizing global markets remains uncertain.
