Trump Visit Boosts Saudi Airlines and Business Ties
As Trump's visit to Saudi Arabia approaches, the potential for increased business ties and investments between the two nations is significant, with Saudi airlines and tourism expected to benefit, but concerns about conflicts of interest and the impact on the global economy remain, particularly in light of the ongoing crisis in Ukraine and the pressure on Russia's economy.
President Trump's upcoming visit to Saudi Arabia is expected to strengthen business ties between the two nations, with the Trump family's businesses having already received significant investments from the Saudi government, including a $2 billion deal for Jared Kushner's private equity firm, and the announcement of a new Trump International Golf Club in Qatar, in collaboration with a Saudi company, potentially boosting Saudi airlines and tourism.
The visit is seen as a way for Trump to secure a $1 trillion deal for American companies, although the exact terms of the agreement remain unclear. Trump's family and his son-in-law, Jared Kushner, have profited from their connections to the Saudi government, sparking concerns about conflicts of interest. The Trump Organization's deal to build a Trump International Golf Club in Simaisma, Qatar, in collaboration with a Saudi company, is also expected to promote Trump's own business interests.
In related news, Saudi Arabia has dealt a blow to the Russian economy by pushing the Organization of the Petroleum Exporting Countries (OPEC+) to accelerate oil production, leading to a fall in oil prices. The US benchmark oil price has dropped below $60 a barrel, down from $65 in mid-April, after OPEC+ announced it would increase oil production for a second consecutive month. This has added economic pressure on Russia, which is facing sanctions due to its invasion of Ukraine.
The outcome of Trump's visit to Saudi Arabia and the subsequent impact on business ties and oil prices remains to be seen, but it is clear that the relationship between the two nations will have significant implications for the global economy and balance of power.