Trump Lifts Oil Sanctions on Russia and Iran When

March 9 (Reuters) - U.S. President Donald Trump is considering easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at ​curbing spiking global oil prices amid the Iran conflict, according ...

The sanctions relief took place after a call between Trump and Russian President Vladimir Putin on March 9 and a subsequent visit to the U.S. by Dmitriev to discuss the current energy crisis with a U.S. delegation that included Trump's special ...

The Treasury Department on Friday temporarily lifted sanctions on Iranian oil that is currently at sea, authorizing it to be sold to most countries. The license applies to oil loaded on vessels as of March 20 and extends until April 19.

President Trump said he would do whatever was necessary to lower oil prices, and his Treasury secretary said the government might even take the paradoxical step of lifting sanctions on some Iranian oil.

It had previously eased sanctions on Russian oil, and on Friday issued a general licence allowing the sale of Iranian crude oil and petroleum products loaded on vessels as of Friday to 19 April, according to the licence posted to the US treasury ...

As the cost of oil continues to soar, the Treasury Department on Friday lifted sanctions on 140 million barrels of Iranian crude already loaded onto vessels, which the Trump administration says will help ease prices — but which is also likely ...

The US waiver, active for one month, will let countries buy up Russian oil which, under current sanctions, has been floating at sea, unable to be sold. Treasury Secretary Scott Bessent said the "tailored, short-term" policy move would reduce the economic impact of the US-Israel war with Iran.

David Malpass, the former president of the World Bank, said the move was a "narrow action that should cause downward pressure on oil prices outside China" and "should also reduce Iran's oil revenue and undercut its military". Writing on X, he added: "This is one in a number of steps last week (including the Jones Act waivers, opening pipelines and building refineries) that will benefit the U.S. and add to long-term energy supplies." The US has already undertaken other efforts to boost supply, including the release of millions of barrels of oil reserves and the suspension of some sanctions on Russian oil last week.

“This is unfathomable to me to be simultaneously at war with Iran and waiving sanctions on Iran.” · Iranian counterstrikes in the Strait of Hormuz have effectively halted the flow of oil through the major trading passage, resulting in a shortage in global energy supplies. The average price of regular gas in the U.S. on Friday was up by nearly a dollar from a month ago, according to AAA. The Trump administration has taken several steps to alleviate the economic impacts felt by American consumers during these ongoing military operations, including lifting sanctions on Russian oil stuck at sea.