Crown Prince Mohammed bin Salman Al Saud of Saudi Arabia has issued a warning, stating that the United States will face dire economic consequences if the Joe Biden administration takes action to punish the kingdom for its policy of capping oil prices, Washington Post reports.
In October 2022, US President Joe Biden expressed his dissatisfaction with Saudi Arabia's decision to accept the terms of the OPEC+ agreement, which aimed to reduce daily oil production by 2mn barrels. During an interview with CNN, Biden remarked that there would be consequences for Saudi Arabia's actions, particularly regarding their dealings with Russia, and he pledged to take action in coordination with Congress. At that time, journalists from the New York Times reported that Saudi Arabia had violated undisclosed agreements with the United States by increasing oil production.
The Washington Post reports that in response to President Biden's public threats, the Saudi crown prince issued a counter-threat, warning of "significant economic consequences" if the United States were to follow through with retaliation, and he further stated that he would no longer engage with the US administration.
The White House, however, claims to have no knowledge of any such threats from Saudi Arabia. Officials maintain that the released documents have a long history and do not provide a complete understanding of the current situation.
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