U.S. President Donald Trump stated that he will strive to reduce oil prices, expressing confidence that this would lead to an end to Russia's war against Ukraine.
“I am also going to ask Saudi Arabia and OPEC to lower oil prices. You need to reduce it, and honestly, I am surprised they haven't done so... If the price were lower, the war between Russia and Ukraine would immediately come to an end. Right now, the price is high enough for this war to continue. You need to lower oil prices,” he said during a special address at the World Economic Forum in Davos on Thursday.
According to Trump, OPEC “should have done this a long time ago” and “bears significant responsibility for what is happening.”
“Millions of people are dying. When oil prices go down, I will demand that interest rates drop immediately, and they should be lowered worldwide as well. Interest rates need to follow our lead,” the U.S. president declared.
Earlier, President Donald Trump urged Vladimir Putin to reach an agreement to end the war in Ukraine quickly, or else he would impose high taxes, tariffs, and sanctions.
"If we do not make a 'deal' soon, I will have no choice but to impose high taxes, tariffs, and sanctions on everything Russia sells to the United States and other participating countries. Let’s put an end to this war, which would never have started if I were president!" Trump wrote on Truth Social.
He emphasized that it is time to "make a deal" and "no more lives should be lost."