Trump: Will temporarily lift some oil-related sanctions to lower oil prices

2026-03-10 00:31:38

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ChainCatcher News, on Monday, Trump announced at a press conference that the United States will temporarily lift some oil-related sanctions to ensure sufficient oil supply and lower fuel prices. Trump also stated that the increase in oil prices has not reached the severity he was concerned about.

Trump said, “We have imposed sanctions on some countries. Before the Strait of Hormuz reopens to navigation, we will lift these sanctions.” However, he did not provide specific details. Last week, the U.S. issued a 30-day temporary exemption allowing the sale of Russian oil currently stranded at sea to India to help ease global oil market pressures.

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