Can a decline in oil prices end the Russian war against Ukraine?

US Special Envoy for Ukraine and Russia Keith Kellogg believes that stopping Russian aggression against Ukraine will require a reduction in the price of oil to $45 per barrel.

The President of the Strategy XXI Center for Global Studies, Mykhailo Honchar, believes that OPEC and Saudi Arabia may support Donald Trump’s idea of ​​reducing oil prices. But Riyadh may have counter-demands that include absolute security guarantees that will put an end to the Iranian Houthis. According to Honchar, it is not so much the lower price that is important but its duration, as this will affect the Putin regime’s income and, accordingly, the ability to refill the Russian war chest.

“Taking into account Trump’s promises and statements from the Saudis, the situation will develop along this trend. And I think we will be able to see the result in the summer,” Honchar added.

On the other hand, political scientist Oleg Sahakyan said the decline in oil prices is unlikely to work against Russia. A more effective tool could be an embargo, which will oust Russia from key oil markets.