US waiving oil-related sanctions to reduce prices, Trump says
U.S. President Donald Trump said March 9 that the United States is preparing to waive certain oil-related sanctions in an effort to stabilize global energy prices, which have skyrocketed amid the war in Iran.
"We're ... waiving certain oil-related sanctions to reduce prices," Trump said at a news conference in Florida. "So we have sanctions on some countries. We're going to take those sanctions off until this straightens out."
"Then who knows, maybe we won't have to put them on," he added. "There'll be so much peace."
Trump did not specify which country could receive sanctions relief. However, Reuters reported earlier that the United States was considering lifting sanctions on Russian oil.
Last week, the United States allowed India to temporarily purchase Russian crude oil already on tankers at sea to help offset supply disruptions from the Middle East.
"President Trump and his entire energy team have had a strong game plan to keep the energy markets stable well before Operation Epic Fury began, and they will continue to review all credible options," White House spokesperson Taylor Rogers told Reuters, referring to the U.S.-Israeli strikes on Iran.
A day earlier, U.S. Energy Secretary Chris Wright said the United States does not plan to abandon its sanctions policy against Russia despite temporary measures aimed at stabilizing global energy markets.
