Russia has been exporting arms to countries including Saudi Arabia, bolstering its economy after a barrage of sanctions followed its full-scale invasion of Ukraine in 2022.

President Donald Trump doubled down on ending the war in Ukraine during his speech at Davos a day after threatening Russia and Putin with tariffs and sanctions.

The Ukraine war is about Russia's national security and not about oil prices, the Kremlin said on Friday after U.S. Donald Trump called for a cut in the price of oil.

Addressing executives at the World Economic Forum in Davos, Trump minced no words as he accused the Saudis and OPEC of sustaining Russia’s military offensive in Ukraine by maintaining high oil prices.

Trump also said he would like to meet Russian President Vladimir Putin to negotiate an end to the war, citing loss of life as a major concern. He claimed his administration had done more in four days than the previous regimes did in four years.

Addressing the World Economic Forum, the US president pledged to apply pressure on OPEC, claiming that a drop in the price of oil would end Russia's full-scale invasion of Ukraine.

OPEC+ has yet to react to a call from U.S. President Donald Trump for lower oil prices, with delegates from the group pointing to a plan already in place to start raising oil output from April.

During a speech to the World Economic Forum on Thursday, President Donald Trump pressured the Saudi Crown Prince to increase his planned $600 billion investment in the U.S. "to a round $1 trillion" and to lower the global price of oil.

"You've got to bring down the oil price, you've got to end that war. They should have done it long ago," President Donald Trump said.

US President Donald Trump announced on Thursday that he would be asking Saudi Arabia and OPEC to bring down the cost of oil.

Ukraine supports Donald Trump`s proposal to lower oil prices, believing it could end the Russia-Ukraine war. Yermak backs Trump`s Davos comments.