According to US leader Donald Trump, the decline in oil prices is increasing pressure on the aggressor country Russia, and also increases the likelihood of signing a peace agreement to end Russia's war against Ukraine.
Points of attention
- Global geopolitics influenced by oil prices and ongoing conflict between Ukraine and Russia.
- Trump's upcoming trip to Saudi Arabia, Qatar, and the United Arab Emirates may further shape the dynamics of the situation.
Trump is again positive about ending the war
Now, when oil prices have fallen, we have a good moment for agreements. Russia wants to agree, Ukraine wants to agree. If I were not the president, no one would agree on anything.
Donald Trump
President of the United States
Analysts point out that US West Texas Intermediate crude oil was trading at $57.21 per barrel.
What is important to understand is that this is a quarter less than when Trump returned to the White House.
OPEC's decision over the weekend to increase oil production, despite an expected decline in demand due to the US trade war, also contributed to the fall in prices.
As is known, the American leader has repeatedly called on OPEC to increase production and lower prices. In his opinion, this would deprive the Kremlin of the revenues it spends on waging war against Ukraine.
Moreover, the White House threatened new sanctions and other pressure measures as Putin constantly hampered the negotiation process.
The US president's new statements came a week before his planned trip to Saudi Arabia, Qatar, and the United Arab Emirates.
Against this background, the European Union is actively working on a proposal to ban imports of Russian gas by the end of 2027.
