To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more

Kenes Rakishev appointed as a member of Astana Opera Board of Trustees

Kenes Rakishev joins the cast of selected businessmen to support the art in Kazakhstan

Saudi Arabia advised Trump to break his election promise

Khalid al-Falih criticized Trump’s idea of blocking oil imports.

20.Nov.16 10:51 PM
By Ekaterina Kochetkova


Saudi Arabia advised Trump to break his election promise

In his interview to Financial Times, Saudi Arabia's energy minister Khalid al-Falih criticized Trump’s pledge to block oil imports. The minister admitted that “blocking trade in any product is not healthy”. He pointed out that free trade in oil industry helped to "create a lot of jobs and value". American energy independence would inevitably put at risk not only the US economy but the global economy, too.

As statistics show, last year the USA imported over 9 million barrels of oil per day from almost 90 countries. During his election campaign Donald Trump declared that the country should stop investing in the “foes and the oil cartels". Obviously, this statement mainly relates to the member countries of the Organization of Petroleum Exporting Countries (OPEC).

Khalid al-Falih expressed his hope that the idea of energy independence would be thought over and rejected by the newly elected president and the new administration.

Back to the list

Related Information: