Russia makes 'fortune' while US faces 'economic threat', claims Donald Trump

Donald Trump criticised Joe Biden' policies regarding electric vehicles, clean energy calling them danger to auto industry

By Web Desk
September 29, 2023
Former President Donald Trump speaks at a campaign rally at Drake Enterprises, an automotive parts manufacturer, on September 27, 2023, in Clinton Township, Michigan. — AFP

Former US President Donald Trump has claimed that Russia is earning heavily after the surge in global oil prices whereas his country is encountering economic threat as it is attempting to turn to clean energy, just after a New York judge found the 77-year-old liable for fraud and overvaluing his wealth to secure better financial deals.

New York’s Judge Arthur Engoron ruled that Trump overestimated the values of his assets to build his business edifice, the decision that could pull the ground from the billionaire's commercial enterprise, forcing it to crumble on the ground.


The decision by the judge also rescinded the licenses of the Trump Organisation and other companies owned by Donald Trump and his adult sons, Eric and Donald Trump Jr., which according to Michael Cohen, his former attorney and fixer, pushed the former president already out of business.

While speaking at Drake Enterprises, an auto parts manufacturer without having a union near Detroit, Donald Trump criticised President Joe Biden and his policies regarding electric vehicles (EV) and clean energy. The billionaire termed them a danger to the US auto industry.

In a stark warning, the indictment-plagued Trump said that a shift to EV will axe jobs at America’s biggest carmakers and eventually make them obsolete.

"For auto workers, Biden’s transition to electric is a transition to hell," the former president declared. "A transition to unemployment."

Trump claimed that the US was “more energy-independent” than Russia and China during his tenure as president, while now “we are begging countries to give us gasoline."

"We are going to lose our country," Trump warned, arguing that Putin's Russia has "made a fortune" and continues to benefit from high oil prices.

Oil prices in the global market are on an upward trajectory — a 30% rise — since June after the Organisation of Oil Exporting Countries (OPEC) plus Russia reduced the supplies to maintain the demand.

The oil prices in the global market Thursday reached their peak in over a year, with benchmark Brent rising above $97 a barrel. US West Texas Intermediate futures touched $95 per barrel, marking the highest price since August 2022.