{"id":30362,"date":"2026-03-11T04:32:22","date_gmt":"2026-03-11T04:32:22","guid":{"rendered":"https:\/\/gsrra.com\/?p=30362"},"modified":"2026-03-11T04:32:26","modified_gmt":"2026-03-11T04:32:26","slug":"trump-says-some-sanctions-will-be-lifted-on-oil-producers-amid-the-iran-war","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=30362","title":{"rendered":"Trump says some sanctions will be lifted on oil producers amid the Iran war"},"content":{"rendered":"\n

Crude oil prices plunge below $90 a barrel following an earlier surge to almost $120 in price swing over 24 hours.<\/em><\/p>\n\n\n\n

\"President
President Donald Trump speaks on Monday in Florida, US [Mark Schiefelbein\/AP]<\/figcaption><\/figure>\n\n\n\n

<\/a>United States President Donald Trump has said his administration will lift some sanctions on oil-producing countries to keep energy prices down amid the US and Israel\u2019s war on Iran.<\/p>\n\n\n\n

Trump made the comments on Monday after a rollercoaster 24 hours that saw crude oil prices\u00a0soar to\u00a0nearly\u00a0$120\u00a0a barrel<\/a>\u00a0before dropping below $90.<\/p>\n\n\n\n

\u201cSo, we have sanctions on some countries. We\u2019re going to take those sanctions off until this straightens out,\u201d Trump said at a news conference at his golf club in Miami, Florida.<\/p>\n\n\n\n

\u201cThen, who knows, maybe we won\u2019t have to put them on \u2013 there\u2019ll be so much peace,\u201d he said.<\/p>\n\n\n\n

Trump did not specify which countries would be subject to sanctions relief. Washington currently maintains sanctions on the oil sectors of Russia, Iran, and Venezuela.<\/p>\n\n\n\n

The Reuters news agency, citing multiple unnamed sources, reported on Monday that Trump was considering easing sanctions on Russia as part of his plans to keep oil prices down.<\/p>\n\n\n\n

US Treasury Secretary Scott Bessent last week announced a 30-day waiver on sanctions on Russian oil sales to India amid concerns about growing pressure on global supplies.<\/p>\n\n\n\n

Crude oil prices continued their retreat after Trump\u2019s comments, with Brent crude hovering at around $84 a barrel as of 02:00 GMT on Tuesday.<\/p>\n\n\n\n

Global energy markets have been on tenterhooks since the US and Israel launched joint strikes on Iran on February 28, with crude prices surging as much as 50 percent compared with before the conflict.<\/p>\n\n\n\n

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