Trump to lift some oil sanctions
U.S. President Donald Trump (Photo: REUTERS/Kevin Lamarque)
U.S. President Donald Trump said that his administration would temporarily ease some oil-related sanctions in an effort to reduce fuel prices, CNN reported late on March 9.
“We will be waiving certain oil-related sanctions to reduce prices,” he said, without specifying which sanctions could be lifted.
“We have sanctions on some countries. We’re going to take those sanctions off until this straightens out.”
This announcement follows surging global oil prices after the United States and Israel attacked Iran. American consumers have begun paying more for gasoline.
Both Iran and Russia are among the world’s most heavily sanctioned oil-producing nations.
Trump recently granted India a waiver allowing it to import more Russian oil after Washington and New Delhi reached a trade agreement that had originally required India to reduce such purchases.
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