Jared Kushner and former Treasury Secretary Steven Mnuchin will deliver speeches at a Saudi investment conference, despite White House tensions with the country.
The two men will speak in panels at the Future Investment Initiative in Riyadh on October 25 and 26.
Kushner will sit down with former Italian Prime Minister Matteo Renzi to discuss “peace and prosperity,” while Mnuchin will talk global macro finance with several others from Saudi Arabia, Bahrain and India.
Mnuchin had previously attended the conference, including as former Secretary of the Treasury to President Donald Trump.
No one in Biden’s administration attends the event.
The pair are attending the conference despite rising tensions between the US and Saudi Arabia after Biden announced he would re-evaluate relations between the countries following OPEC’s oil production cut.
Jared Kushner (pictured) and former Treasury Secretary Steven Mnuchin will deliver speeches at the Future Investment Initiative in Riyadh on October 25-26.
Mnuchin (pictured) has previously attended the conference as Trump’s Treasury Secretary. There will be no Biden officials in attendance
Reducing oil production in the Middle East by 2 million barrels a day is sure to push gas prices even higher ahead of the midterm elections, and has led to claims that Saudi Arabia is “on par” with Russia.
For months, since the US stopped exporting Russian oil and divested the European Union, Moscow has been selling its product to Saudi Arabia instead. The Saudis keep Russian oil for their own use and then sell it on the world market.
Democrats have now vowed to back the kingdom on the production cut after Biden punched Crown Prince Mohamed bin Salman in Jeddah in July.
Democratic Senator Dick Durbin also accused Saudi Arabia of Russia winning the war in Ukraine.
“Do you think Saudi Arabia wants Russia to win in Ukraine?” CNN’s John Berman asked him.
Kushner will sit down with former Italian Prime Minister Matteo Renzi to discuss “peace and prosperity,” while Mnuchin will discuss global macro finance with several others from Saudi Arabia, Bahrain and India.
“Yeah… let’s be very candid about that. It’s Putin and Saudi Arabia against the United States,” he said earlier this month.
Kirby later repeated his comments in a press conference.
“The president believes that we should review the bilateral relationship with Saudi Arabia and take a look to see if that relationship is where it needs to be and if it serves our national security interests and he is willing to extend this relationship with members.” discuss. of Congress,” he said.
Menendez, the chairman of the Senate Foreign Relations Committee who has veto power over foreign arms sales, said in a statement that he “will not give the green light to cooperation with Riyadh until the Kingdom reconsiders its stance on the war in Ukraine.”
Earlier this month, Durbin, the Senate’s number two Democrat, tweeted that Saudi Arabia “is never a reliable ally” and that it is time for the US to “imagine a world without its alliance.”
Energy ministers from the OPEC cartel, of which Saudi Arabia is the leading member, and allied non-members, including Russia, met in person last week for the first time since early 2020 at the group’s headquarters in Vienna.
They announced production restrictions in early October and it is the largest since the start of the COVID-19 pandemic.
Just this summer, Biden took a trip to the Middle East and met Crown Prince Mohammed Bin Salman to discuss energy security and rising gas prices in the U.S. over a troubling handshake with leader Biden, who punched bin Salman against the ground to avoid.
Biden announced earlier this month that he will re-evaluate the US’s relationship with Saudi Arabia after the oil-rich country cut production by 2 million barrels per day.
The announcement boosted Russian oil prices to fund the Kremlin’s invasion of Ukraine. It also thwarts the West’s attempts to choke Moscow’s energy dollars.
JP Morgan CEO Jamie Dimon took a veiled swipe at Biden for saying the US should pump more oil and gas and should have done so for a long time.
“In my opinion, America should have pumped more oil and gas and should have been supported,” the famous billionaire chairman told CNBC on Monday.
“America has to play a real leadership role. America is the swing producer, not Saudi Arabia. We should have done that right from March,” he added.
Biden also considers telling US companies to stop expanding their ties with Saudi Arabia NBC News.