Start News Trump discusses tariffs against Saudi Arabia with oil companies

Trump discusses tariffs against Saudi Arabia with oil companies

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According to a newspaper, US President Donald Trump wants to meet with the heads of leading oil companies tomorrow and also discuss any tariffs against Saudi Arabia. During the conversation in the White House, representatives of Exxon Mobil, Chevron and Occidental Petroleum were expected, among other things, reported the „Wall Street Journal“ yesterday without exact source.

The topic is possible aids for the industry, which could include surcharges on oil imports from Saudi Arabia. The kingdom – OPEC’s most important member – is waging a price war with Russia, which is also weighing on the US oil industry.

Russian President Vladimir Putin also sees an urgent need for action in view of the drop in oil prices. „It is indeed a very serious challenge for our economy,“ Putin said yesterday at a government meeting via video. Discussions with the partners at the OPEC oil cartel are therefore necessary.

The crash for Russia’s most important export items is „very significant“. It was the first time that Putin was so concerned. Russia’s budget depends on income from oil sales.