Trump suggests he may not extend sanctions waivers for Russian oil
US President Donald Trump indicated that his administration may not renew sanctions exemptions allowing purchases of Russian oil, which were introduced to curb global energy price spikes caused by the Iran war.
US President Donald Trump has suggested that his administration may not extend waivers from sanctions that permit the purchase of Russian oil. These exemptions were introduced in response to soaring global energy prices triggered by the Iran war.
Trump made the statement on the sidelines of the G7 summit, citing the recent ceasefire agreement with Iran. He noted that the United States can now afford to let the waivers expire, as oil supply is already flowing.
The sanctions relief was implemented after the US-Israeli operation against Iran led to the blocking of the Strait of Hormuz and a sharp rise in energy costs. The waivers allowed countries to buy Russian crude oil already at sea, aiming to ease market pressures.
This policy has caused friction with European allies, who argue that strict sanctions are crucial to deprive Russia of oil revenues and limit its ability to fund the war in Ukraine.
In May, the US once again extended these temporary exemptions. Earlier in June, Secretary of State Marco Rubio stated that Washington aims to lift the sanctions waivers on Russian oil as soon as possible.
