Saudi Arabia and UAE leaders turn down calls with Biden: Report

BIDEN ANNOUNCES RUSSIAN OIL BAN, BLAMES PUTIN FOR SURGING PRICES

“There was some expectation of a phone call, but it didn’t happen,“ an official told the news outlet. ”It was part of turning on the spigot [of Saudi oil].”

Biden announced a U.S. ban on oil and natural gas imports from Russia on Tuesday to strike at “the main artery of Russia’s economy” as punishment for Russia’s invasion of Ukraine. The move is expected to bruise the U.S. economy as well and propel soaring gas prices even higher. One way this could be countered is if top oil producers such as the Saudi-led OPEC ramp up oil production.

Relations between the U.S. and Saudi Arabia have been strained in recent years. Saudi Crown Prince Mohammed bin Salman is facing multiple lawsuits in the U.S., including in connection to the killing of journalist Jamal Khashoggi in 2018. Additionally, both Saudi Arabia and the UAE have expressed concerns about U.S. attempts to revive the Iran nuclear agreement.

Biden held a call with Mohammed’s father, King Salman, on Feb. 9, and a planned call with the UAE’s Sheikh Mohammed bin Zayed al Nahyan will be rescheduled, per the report. Biden’s advisers are also mulling over potential plans for a Biden trip to Saudi Arabia in the spring in an effort to mend relations, Axios reported. White House press secretary Jen Psaki said there are currently no plans for that visit.

The Biden administration has been trying to get Saudi Arabia to produce more oil for weeks. Last month, two State Department officials visited the country in an attempt to get the oil-rich nation to increase its oil output.

Both Saudi Arabia and the UAE voted to condemn Russia at the United Nations last week for its invasion of Ukraine. But OPEC officials have expressed skepticism at their ability to compensate for Russian oil.

“There is no capacity in the world that could replace 7 million barrels per day,” said OPEC chief Mohammed Barkindo, according to Business Insider.

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The U.S. is currently the world’s largest oil producer, followed by Saudi Arabia and Russia, according to the U.S. Energy Information Administration. About 3% of total U.S. crude oil imports come from Russia, according to the American Fuel and Petrochemical Manufacturers trade association. The European Union, which is also seeking to levy economic penalties against Russia, relies on Russia for about 45% of its gas.

Some analysts, such as CNN’s Fareed Zakaria, have suggested the U.S. could fill the void of Russian oil by reducing sanctions on Venezuela and Iran.

However, that idea has been met with skepticism in Congress. Members of both major political parties have called on the U.S. to increase its own domestic oil production to compensate for Russia’s oil. Industry experts have cautioned that it will take time for the U.S. to boost its oil output.