3/26, 7:34 PM (Source: TeleTrader)
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US senators threaten Saudis with sanctions over price war

Six United States Republican senators threatened Saudi Arabia with sanctions on Thursday over the kingdom's decision to initiate a price war against Russia.

"During this time of pandemic and global economic crisis, the Kingdom of Saudi Arabia has chosen to settle scores in the oil market. Our nation’s energy dominance, which President Trump has carefully nurtured over the past three years, is now under direct threat from a country that professes to be our ally," the GOP senators wrote in a letter to Secretary of State Mike Pompeo. "By taking advantage of a confusing situation and desperate time, the Kingdom risks its bilateral relationship with the United States," they added.

The lawmakers proceed to urge Riyadh to abandon the Organization of the Petroleum Exporting Countries (OPEC), which they claim has largely benefited Russia, and join the US "on the global stage as a free-market energy powerhouse."

Breaking the News / JC