Saudi Arabia to host Ukraine-organised peace summit, India amongst nations invited

Saudi Arabia might host a summit on August 5 and 6 to seek out methods to barter between Russia and Ukraine amidst the continued warfare between the 2 nations. As per Wall Street Journal report, diplomats from round 30 nations might take part within the occasion together with India.

An official of the Saudi Arabia authorities has stated in a press release that Saudi Arabia plans to host a Ukraine-organised peace summit in early August. The summit will likely be geared toward beginning negotiations over the continued warfare between Russia and Ukraine. The official stated on the situation of anonymity that Ukraine, Brazil, India, South Africa and several other different nations might take part within the summit.

The official stated nobody is authorised to debate the summit in public as of now. There is a chance {that a} high-level official from US President Joe Biden’s administration may also be part of the summit. The reviews of the summit got here at a time when US nationwide safety advisor Jake Sullivan not too long ago accomplished his go to to the Kingdom. As the occasion will likely be overseen by Kyiv, Russia’s attendance will not be anticipated.

An official spoke to Associate Press on the matter and stated the summit can be a follow-up step to the talks that came about in Copenhagen in June this yr. Notably, in May 2023, Ukrainian President Volodymyr Zelenskyy attended an Arab League summit in Jeddah to speak to the nations attending the summit to again Ukraine within the ongoing warfare. So far, Arab nations have largely maintained a impartial stand on the matter as they’ve army and financial ties with Moscow.

Saudi Crown Prince Mohammed Bin Salman might look in direction of elevating his profile on the worldwide platform by internet hosting such peace talks. In the previous, he has sought to achieve a détente with Iran and pushed for peace between the Kingdom and Yemen.

Saudi Arabia and Russia have shut relationships as they’re a part of the OPEC group. Notably, Biden and American lawmakers have expressed their displeasure over OPEC’s resolution to chop oil manufacturing amidst a worth rise because of the Russia-Ukraine warfare. Furthermore, there have been variations between the Kingdom and the West within the dismemberment of Washington Post columnist Jamal Khashoggi on the Saudi Consulate in Istanbul that US intelligence businesses claimed came about on the orders of Prince Mohammed.

Russia Ukraine warfare

In February 2022, Russia launched a army motion towards Ukraine. Since then, Western nations have supported Ukraine within the warfare. Ukraine, which needs to hitch NATO nations, has approached a number of nations, together with India, searching for help. However, India and several other different nations have maintained a impartial stand. On the opposite, Western nations imposed heavy sanctions on Russia, leading to a spike in power costs within the worldwide market.

Interestingly, India is among the many high beneficiaries in all this mess because it discovered a silver lining and elevated crude oil purchases from Russia. Recent reviews advised that India has saved round USD 7 billion in international trade in 14 months by shopping for crude oil from Russia at a reduced worth.