Trump administration discusses further easing sanctions on Russia oil – CNN

The Trump administration has discussed further easing sanctions on Russian oil as part of emergency measures to counter a surge in energy prices caused by its war with Iran.

Source: CNN citing sources familiar with the matter, as reported by European Pravda

Details: The potential move is designed to support global oil supplies and offset what is described as an effective halt to shipments through the Strait of Hormuz, which has driven prices sharply higher over the past week.

Trump hinted at the possibility of easing the sanctions on Monday, saying at a press conference that "we have sanctions on some countries" and "we are going to take those sanctions off until this straightens out".

Last week the US Treasury Department granted India a temporary waiver to purchase Russian oil already at sea.

Officials in the Trump administration have since discussed additional sanctions relief, though the people familiar with the matter cautioned no final decision has been made on the scale or scope of any such measures.

Background:

• At a meeting of G7 finance ministers on Monday 9 March, European officials urged the US not to take steps that would allow Russia to secure significant revenues.
• Bloomberg reported the US has supposedly indicated to European allies that any further easing of oil sanctions Trump announced for "some countries" would largely be limited to supplies to India.
• Ukrainian President Volodymyr Zelenskyy has said he hopes the US will not lift sanctions on Russian oil, warning it would be a reputational blow for the whole world and set a bad example for others.

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