As reported by RBK-Ukraine, U.S. President Donald Trump made this statement during a speech at the World Economic Forum in Davos. This information is provided by Kontrakty.UA.
"I want to ask Saudi Arabia and OPEC to lower oil prices again. I am surprised they haven't done this before the elections. If prices had dropped, Russia's war against Ukraine would have ended quickly," Trump said.
In his view, as long as oil prices remain high, the war will continue.
"You can end the war by lowering oil prices. This should have been done a long time ago; it's irresponsible on your part," emphasized the U.S. President.
"Price Cap" on Oil
Recall that the price cap on Russian oil was established in December 2022 by EU countries and the "Group of Seven" (G7).
The price limit was set at $60 per barrel for Russian crude oil, while for petroleum products, the cap was set at a maximum of $100 per barrel for premium products and $45 per barrel for other petroleum products.
However, after this, Russia created a "shadow fleet" to bypass such Western restrictions and sell its oil at regular prices.
Recently, the European Union imposed its 15th sanctions package against Russia, targeting the RF's "shadow fleet." The sanctions list included 52 vessels from third countries.
At the same time, the G7 countries are exploring the possibility of tightening the "price cap" on Russian oil.
Recently, six EU countries urged the European Commission to lower the G7-established price limit on Russian oil to $60 per barrel. This would reduce Moscow's revenues for continuing the war in Ukraine without causing a shock to the market.