The leak reveals that Saudi Arabia agreed to pay Russia over 2 billion euros under a contract signed in 2021 involving companies that were repeatedly sanctioned, both before and after Russia’s full-scale invasion of Ukraine.

Russia has been exporting arms to countries including Saudi Arabia, bolstering its economy after a barrage of sanctions followed its full-scale invasion of Ukraine in 2022.

President Donald Trump doubled down on ending the war in Ukraine during his speech at Davos a day after threatening Russia and Putin with tariffs and sanctions.

Addressing executives at the World Economic Forum in Davos, Trump minced no words as he accused the Saudis and OPEC of sustaining Russia's military offensive in Ukraine by maintaining high oil prices.

In fact, the Saudi Press Agency’s announcement that the kingdom would invest $600bn was based on the royal palace’s readout of a Wednesday phone call between Trump and Saudi Crown Prince Mohammed bin Salman. This is Trump’s first phone call with a foreign leader since his inauguration earlier this week.

Trump also said he would like to meet Russian President Vladimir Putin to negotiate an end to the war, citing loss of life as a major concern. He claimed his administration had done more in four days than the previous regimes did in four years.

Ukraine has hit one of Russia’s biggest oil refineries in a drone strike overnight, Russian media reports have said. Large flames and plumes of smoke rose from the Ryazan Oil Refinery after locals reported explosions shortly before 1am on Sunday,

US President Donald Trump said the russia-Ukraine war would "end immediately" if oil prices fell.His words were quoted by The Guardian on Thursday, January

U.S. President Donald Trump on Thursday said he will demand Saudi Arabia and OPEC bring down the cost of oil and will ask Riyadh to increase a planned U.S. investment package to $1 trillion from an initial reported $600 billion.

Saudi Foreign Minister Prince Faisal bin Farhan said on Friday from Damascus that his country was engaged in an active dialogue with Europe and the U.S. to help lift economic sanctions imposed on Syria.

Saudi Arabia "needs to punch at (its) weight" on the global stage given its growing institutional presence and the return of Donald Trump, the kingdom's finance minister told AFP in Davos. "We are a key player in the world,