Zelenskyy Open to Energy Ceasefire If Russia Agrees, Says Aaron David Miller

In this episode of Balance of Power, which examines the intersection of politics and global business, Aaron David Miller, Senior Fellow at the Carnegie Endowment for International Peace, warns that the US joining Saudi Arabia in military attacks on the Houthis could deepen what he calls a "mini forever war" without producing a clear end state. He notes that US forces previously conducted more than a thousand strikes on Houthi facilities, but argues airstrikes are unlikely to change the group's political calculations. Miller says Saudi infrastructure is especially vulnerable because the Houthis have demonstrated the ability to target it. Ellen Wald, president of Transversal Consulting and nonresident senior fellow at the Atlantic Council Global Energy Center, says she sees no recent move by the president that could materially bring down oil prices. She explains that short-lived dips driven by statements or social media have not lasted, and the market has largely shed expectations that the conflict will soon end. Wald adds that oil-market buffers built up over the prior six months are nearly exhausted, while reported oil flows through the Strait of Hormuz remain a critical concern. The discussion also touches on Ukrainian President Volodymyr Zelenskyy's openness to an energy ceasefire if Russia agrees, a development that could have significant implications for global energy markets and the broader geopolitical landscape. The episode provides in-depth analysis of these pressing issues and their potential impact on the global economy.