Trump Waives Oil Sanctions to Lower Prices Amid Middle East Turmoil

US President Donald Trump announced Monday he will waive certain oil-related sanctions to reduce prices, responding to market turmoil from Middle East conflicts. The US-Israel strikes on Iran and Tehran's retaliatory attacks have disrupted global energy sectors, halting activity in the Strait of Hormuz—a critical oil route. Trump stated he would lift sanctions on unspecified countries to stabilize markets, mentioning talks with Russian President Vladimir Putin and Chinese President Xi Jinping. His comments followed a statement that the US-Israel war on Iran would end earlier than expected, causing oil prices to drop and equities to rally. Trump also suggested keeping sanctions lifted if peace prevails, offering to escort tankers through the Strait of Hormuz. This move reflects concerns about rising fuel costs before US midterm elections. Meanwhile, the US previously eased sanctions to allow India to buy stranded Russian oil, a strategy that may benefit Moscow by redirecting supplies to China. Experts note that disruptions in Venezuelan and Iranian oil supplies have inadvertently strengthened Russia's position as a key exporter.

SOURCE: https://www.channelstv.com/2026/03/10/trump-to-waive-some-oil-sanctions-as-iran-war-roils-markets/