(Forbes)
Common perception is that Russia and Saudi Arabia support President Trump, but that should be reconsidered. Russia’s President Vladimir Putin as well as Saudi Arabia’s King Salman and Crown Prince Mohammed have many more reasons to oppose Trump and support the Democrat challenger in 2020. In fact, their countries’ economic fortunes and their own political futures may depend on whether a Democrat can beat the president next year.
Both countries have economies that rely on the production and sale of oil and natural gas. In Russia, the oil and gas sector contributes almost 40% of national revenue and more than half of the exports. In Saudi Arabia, the oil and gas sector contributes about half of the country’s GDP and 70% of its exports. The national oil company, Saudi Aramco, also contributes around 60% of the government revenue, and the government employs almost 70% of all working Saudis.
Trump has been very bad for Russian and Saudi business. By implementing policies that helped expand American oil and natural gas production, Trump has indirectly attacked their economies. Under Trump, US oil production has exploded to unprecedented levels. It is now above 12 million barrels per day, which is the most in the world. Read more
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