• March 25, 2023

Saudis’ Biden snub suggests crown prince still banking on Trump’s return

Refusal to help US punish Russia and $2bn investment in Kushner fund signal crown prince’s displeasure with Trump’s successor

Saudi Arabia appears to be banking on Donald Trump’s return to office by refusing to help the US punish Russia for the Ukraine invasion, and by placing $2bn in a new, untested investment fund run by Trump’s son-in-law Jared Kushner.

In seeking to persuade Riyadh to increase oil production so as to lower prices by as much as 30%, and thereby curb Russian government revenue, the Biden administration is looking for ways to reassure the Saudi government that it is dedicated to the kingdom’s security.

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