To end Ukraine war: Donald Trump leans in on targeting Russian oil revenue
“One way to stop it quickly is for OPEC+ to stop making so much money," Trump said
Washington: President Donald Trump is emphasizing that targeting Russia’s oil revenue is the best way to get Moscow to end its nearly three-year war against Ukraine.
Trump, who pledged in the campaign that he’d broker a quick end to the grinding conflict, in his first days in office has leaned in on the idea that OPEC+, the alliance of oil producing nations, holds the key to ending the war by reducing oil prices.
The President on Friday renewed his call on the group of oil producing exporters, led by Saudi Arabia, to reduce the price of oil. It’s a move he says would bleed Russia of much needed revenue to pay for the conflict and force Vladimir Putin to reconsider the war.
“One way to stop it quickly is for OPEC+ to stop making so much money,” Trump said. “So, OPEC+ ought to get on the ball and drop the oil price. And that war will stop right away.” But the push on OPEC+ is an uphill battle, according to industry experts.
Trump made similar calls on OPEC+ this week during a virtual address to the World Economic Forum in Davos, Switzerland. Meanwhile, the president’s special envoy to Ukraine and Russia, Keith Kellogg, said Friday that OPEC+ cutting oil prices to $45 per barrel could push Russia to end the war.
