Saudi Arabia has emerged as a key player in the efforts to broker a peace deal between Russia and Ukraine, facilitated by its significant political influence stemming from its vast oil reserves.
President Donald Trump proposed Riyadh as a meeting place for face-to-face talks with Russian President Vladimir Putin, a suggestion that was accepted by Putin. Despite seeming like an unconventional choice, Saudi Arabia has strategic reasons for involving itself in resolving a conflict far from its borders.
For Crown Prince Mohammed bin Salman, mediating peace negotiations presents an opportunity to enhance his global leadership status and outshine Qatar, which has been actively engaged in mediating between Israel and Hamas. Additionally, Saudi Arabia's involvement could help in resolving the return of Ukrainian children taken to Russia during the conflict.
Trump highlighted the relationships he and Putin have with Saudi Arabia, emphasizing the kingdom's role in the peace process. This has led to Trump's Middle East envoy, Steve Witkoff, actively participating in U.S. engagements in Eastern Europe, including securing the release of an American teacher detained in Russia.
The Saudi kingdom's significance as the world's largest oil exporter plays a crucial role in influencing global oil prices. Higher oil prices benefit the Kremlin by boosting revenue from Russia's oil and gas exports.
Trump has urged OPEC nations to increase oil production to lower global prices, believing that this could pressure Russia to engage more openly in negotiations. He sees reducing oil prices as a means to potentially end the conflict.
While the Trump administration maintains a close relationship with Saudi Arabia, tensions may arise over certain policy proposals, such as relocating Palestinians from Gaza and investing in the U.S. However, bin Salman has pledged substantial investments in the U.S. over the coming years.
Both Saudi Arabia and Ukraine share concerns about Iran, a common adversary that has been supplying Russia with military equipment. Iran-backed groups have targeted Saudi Arabia with attacks using Iranian weaponry, which has parallels to Russia's use of drones in the conflict with Ukraine.
