Trump: Ruble Will Remain Strong Due To Expensive Russian Oil

Former U.S. President Donald Trump said that in order to stop hostilities in Ukraine, world oil prices need to be lowered, and until this is done, the ruble will remain as strong as ever.

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"The ruble is at an all-time high because oil prices are at an all-time high," the former president said at a rally of his supporters in the western state of Wyoming. He then added that to stop the crisis in Ukraine it is necessary to "bring prices down to 30 or 40 dollars a barrel".

According to Trump, Russia is amassing a fortune by selling oil at high prices and charging it in rubles. "Well, there you go, you will be left with no dollars, you will be left with nothing," he said.

Trump took credit for achieving energy independence and affirmed that if he had remained in power, the United States would surpass Russia and Saudi Arabia in terms of oil production volumes and Venezuela would not be asked for help.

The former U.S. president warned that the armed conflict in Ukraine could escalate into an unprecedented global war.

"We could end up in World War III with the stupid things we say and do," Trump declared. This war, he warned, "would be like no other war" because of "modernized and brand new nuclear weapons."

The former president described what is happening in Ukraine as "a terrible thing." "We have to go back to the [negotiating] table. It would never have happened in my administration," he affirmed.

Trump's successor in the White House, Joe Biden, enacted on May 21 a new $40 billion package of military, economic and humanitarian aid for Ukraine, previously approved by Congress.

In May, the Biden Administration informed that the US Treasury Department granted Chevron the general license that allows it to negotiate with the Government of the President of Venezuela, Nicolás Maduro, future activities in the country. For the time being, this measure does not contemplate participation in joint projects with the Venezuelan state oil company PDVSA.

On March 8, President Joe Biden announced a ban on imports of energy products from Russia, after which gasoline prices soared in the U.S.

Biden blames this price increase on the situation in Ukraine. Some experts believe that Washington is making concessions to oil companies regarding cooperation with Venezuela, due to the energy crisis they are going through because of the sanctions imposed on Russia.