PanamaTimes

Friday, Jul 11, 2025

US senator seeks ‘freeze’ in cooperation with Saudi Arabia

US senator seeks ‘freeze’ in cooperation with Saudi Arabia

The US has accused Saudi Arabia of helping underwrite Russia’s war in Ukraine as the supply cut will raise oil prices.

Chairman of the United States Senate Foreign Relations Committee Bob Menendez called on Monday for a “freeze” on cooperation with Saudi Arabia after Saudi-led OPEC+ announced an oil production cut last week despite pressure from the US.

The Saudi-led OPEC+ grouping agreed to cut output by an amount equal to about 2 percent of global supply, curbing production in a tight market and raising the possibility of higher gasoline prices as Washington seeks to limit Russia’s energy revenue after its invasion of Ukraine.

“The United States must immediately freeze all aspects of our cooperation with Saudi Arabia, including any arms sales and security cooperation beyond what is absolutely necessary to defend US personnel and interests,” Menendez said in a statement.

The US has accused the kingdom, the world’s second-largest oil producer, of helping underwrite Russia’s war in Ukraine as the supply cut will raise oil prices amid a global energy crisis.

“I will not green-light any cooperation with Riyadh until the Kingdom reassesses its position with respect to the war in Ukraine. Enough is enough,” Menendez said.

Oil prices surged to a five-week high on Friday, two days after the OPEC+ cut


Last week the White House said it was “disappointed” in the OPEC+ decision and called it “shortsighted”.

The Saudi embassy in Washington did not immediately respond to a request for comment.


Rising oil prices


Oil prices leapt to a five-week high on Friday, two days after the OPEC+ cut, but slipped on Monday, with international benchmark Brent crude settling about 1.8 percent down at $96.19 a barrel on worries about a potential global recession.

High oil prices are a vulnerability for Biden’s fellow Democrats in the November 8 US midterm elections, when they are defending their control of Congress.

Saudi Arabia and other members of OPEC+ have said they seek to prevent volatility rather than to target a particular oil price.

Kremlin spokesman Dmitry Peskov on Sunday praised the production cut saying it was good that such “balanced, thoughtful and planned work of the countries that take a responsible position within OPEC is opposed to the actions of the US”.

US officials are considering the release of 10 million barrels of oil from the country’s strategic petroleum reserve next month to “protect American consumers and promote energy security”.



Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
AI Raises Alarms Over Long-Term Job Security
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Brazilian Congress Rejects Lula's Proposed Tax Increase on Financial Transactions
Landslide in Bello, Colombia, Results in Multiple Casualties
Papa Johns pizza surge near the Pentagon tipped off social media before Trump's decisive Iran strike
Juncker Criticizes EU Inaction on Trump Tariffs
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Sole Survivor of Air India Crash Recounts Escape
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Protests Erupt in Los Angeles with Symbolic Flag Burning
Trump Administration Issues New Travel Ban Targeting 12 Countries
Man Group Mandates Full-Time Office Return for Quantitative Analysts
JPMorgan Warns Analysts Against Accepting Future-Dated Job Offers
Builder.ai Faces Legal Scrutiny Amid Financial Misreporting Allegations
Japan Grapples with Rice Shortage Amid Soaring Prices
Goldman Sachs Reduces Risk Exposure Amid Market Volatility
HSBC Chairman Mark Tucker to Return to AIA as Non-Executive Chair
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Judge Blocks Trump's Ban on International Students at Harvard
Trump Proposes Travel Ban on 'Uncontrolled' Countries
Panama Port Owner Balances US-China Pressures
Trump Administration Accused of Obstructing Deportation Cases
Trump’s China Strategy Remains a Geopolitical Puzzle
Eurozone Inflation Falls Below ECB Target to 1.9%
Call for a New Chapter in Globalisation Emerges
Blackstone and Rivals Diverge on Private Equity Strategy
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Bangkok Ranked World's Top City for Remote Work in 2025
Denmark Increases Retirement Age to 70, Setting a European Precedent
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Escalating Trade Tensions and Market Reactions
OnlyFans Reportedly in Talks for $8 Billion Sale
JBS Gains Shareholder Approval for U.S. Stock Listing
Booz Allen Hamilton to Cut 2,500 Jobs Amid Federal Spending Reductions
Trump Signs Executive Orders to Accelerate Nuclear Energy Development
Harvard Temporarily Blocks Trump Administration's International Student Ban
Nippon Steel Forms Partnership with U.S. Steel, Headquarters to Remain in Pittsburgh
Trump Expands Tariff Threats to Apple and Samsung Devices
Oracle and OpenAI Plan $40 Billion Nvidia Chip Purchase for AI Data Center
×