U.S. to increase oil output, lower prices in effort to pressure Russia, Trump says

Speaking at the American Cornerstone Institute Founder's Dinner in Mount Vernon, broadcast by Fox News, Trump said lowering oil prices could be a key tool to end Russian aggression. “That will automatically stop the war with Russia and Ukraine. You get the prices down a little bit more, that's going to stop it,” he said, urging other countries to follow the U.S. lead in reducing global oil costs.

Trump also expressed disappointment with Russian leader Vladimir Putin’s actions, noting that Russia is “losing” the war and that 5,000 to 7,000 troops are dying on the front lines each week. Washington is thus relying not only on military aid and sanctions, but also on energy policy as a lever to influence Russia’s economy.

• U.S. Treasury Secretary Scott Bessent said that Russia's war against Ukraine would end in 60 to 90 days if Europe imposed tougher secondary sanctions on countries buying Russian oil.