Saudi Crown Prince Mohammed bin Salman on Wednesday hosted visiting British Prime Minister Boris Johnson, during which both leaders discussed the conflict in Ukraine and other regional and international issues, Saudi Press Agency reported.
Saudi Arabia and the United Kingdom signed a memorandum of understanding to establish a strategic partnership council during the prime minister’s visit.
Johnson arrived in the Gulf on Wednesday for meetings in the United Arab Emirates and Saudi Arabia aimed at easing skyrocketing gasoline prices, as the West grapples with economic headwinds from Russia’s war in Ukraine.
Johnson will be seeking greater investments in the UK’s renewable energy transition and ways to secure more oil to lessen British dependence on Russian energy supplies.
His visit, though, is also about pressing these two major OPEC producers to pump more oil, which would have an immediate impact on Brent Crude prices that nearly touched $140 a barrel in trading last week. Prices have eased to around $100 in recent days, in large part due to new pandemic lockdowns in China.
Russian President Vladmir Putin’s decision to invade Ukraine is “causing global uncertainty and a spike in the price of oil,” Johnson told reporters in Abu Dhabi ahead of his meeting with Crown Prince Mohammed bin Zayed.
“Everybody can see the effect of the increase in gas prices that’s coming through,” he added.
Because of Europe’s reliance on Russian oil and gas, Putin has been “been able to blackmail the West to hold Western economies to ransom,” he said.
“We need independence,” Johnson added