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 would be designed to support global oil supplies and counter the effective halt to shipments through the Strait of Hormuz, which has driven prices up sharply over the past week.

President 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 temporary permission 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 that no final decision has been made on the scale or scope of any such measures.

At a meeting of G7 finance ministers on Monday 9 March, European officials urged the US not to take any steps that would allow Russia to receive significant revenues.

Background:

• Bloomberg reported that the US has apparently indicated to European allies that any further easing of oil sanctions that 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 that it would be a reputational blow for the whole world and set a bad example for others.

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