Business News Asia
The Democratic U.S. senator Bob Menendez, who chairs the U.S. Senate Foreign Relations Committee, blamed Saudi Arabia for OPEC+ announcing oil production cuts and called for an immediate end to U.S. cooperation with the kingdom, including arms sales.
In a statement, the Senator said, “I pledge to use all means at my disposal to accelerate support for the people of Ukraine and to starve Russia’s war machine. That is why I also must speak out against the government of Saudi Arabia’s recent decision to help underwrite Putin’s war through the OPEC+ cartel.”
Last week, OPEC and its allies announced their largest production target cut since 2020. OPEC and OPEC+ members said the cuts are based on technical market assessments and are intended to stabilize.
Several analysts, including the White House, view the movement as politically
The U.S. is considering options for retaliation against OPEC and OPEC+ members as well as Saudi Arabia, the de facto leader, U.S. Secretary of State Anthony Blinken said after the group announced the production cut.
Senator Menendez commented on future cooperation with Saudi Arabia, saying, “The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend U.S. personnel and interests.”