Russia and Ukraine flashpoint

[SvennoJ]

Trump officials weigh further easing sanctions on Russian oil as prices rise

The Trump administration has discussed further easing sanctions on Russian oil as part of an urgent effort to combat rising energy prices spurred by its war with Iran, people familiar with the matter told CNN.

The potential move would aim to bolster the global supply of oil and counter the effective halt to shipments through the Strait of Hormuz, which has driven prices sharply higher over the past week.

President Donald Trump on Monday alluded to the possibility of loosening those sanctions, saying during a press conference that “we have sanctions on some countries” and “we are going to take those sanctions off until this straightens out.”

The Treasury Department last week granted India temporary permission to purchase Russian oil already at sea without being penalized by the US.

Trump officials have since discussed an additional easing of its sanctions, though the people familiar cautioned they have yet to make any final decision on the size and scope of any such action.

The White House did not respond to a request for comment.

The US originally imposed the sanctions as an effort to punish Russia for its war in Ukraine. During a meeting of G7 finance ministers on Monday, European officials pressed the US not to make any moves that would allow Russia to reap a significant windfall.

“It’s important that we do not now ease the pressure on Russia and do not help Russia to fill its war chest using this situation of elevated oil and gas prices right now,” Valdis Dombrovskis, the European Union’s economy commissioner, said at a press conference afterward.


Trump and Putin must both pass away soon, one way or the other.