Donald Trump claims Russia, Saudi Arabia 'close to reaching a deal' as oil prices plummet

Amidst the coronavirus pandemic, US President Donald Trump claims that Russia and Saudi Arabia were close to reaching an agreement regarding the plummeting oil prices. According to reports, Trump made his remarks during a press briefing at the White House, the press briefing occurred immediately after the President had reportedly had a conference call with Russian President Vladimir Putin and Saudi leader Crown Prince Mohammed bin Salman.

Deal expected soon: Trump

As per reports, Trump further added that the two nations were getting close to a deal. Trump claimed that Russia and Saudi Arabia would announce some deal or measure very soon. Recently oil prices have plummeted due to an ongoing Russian-Saudi price war, the rivalry has caused both countries to increase production. Another factor that has contributed to the low price of oil is the global economic paralysis that has been triggered by the coronavirus pandemic. According to reports, Trump has said that the situation regarding the price of oil and its heightened production was so ‘catastrophic’ that ‘there's not enough room to even store it’.

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Iran wants to be allowed to sell oil

Meanwhile, Iranian Foreign Minister Mohammad Javad Zarif has asked the United States to stop the sanctions on Iran’s oil exports. As per reports, Mohammad Javad Zarif made the call on April 7. Zarif took to Twitter and claimed that Iran was rich in human and natural resources and did not need help from the United States.

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Mohammad Javad Zarif further added that all Iran needed was the United States to stop preventing Iran from selling oil and other products. According to reports, on April 5 Iran’s envoy to Belgium asked the European Union to oppose the US sanctions on Iran during the coronavirus pandemic.

(Image Credit AP)