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US will soon be able to reimpose sanctions on Russian oil, - Trump
US President Donald Trump has stated that Washington will soon be able to reimpose sanctions against Russia, as the Strait of Hormuz has now been reopened, the war with Iran is over, and oil is ‘flowing’.
He said this during a meeting with the President of the UAE, Sheikh Mohammed bin Zayed Al Nahyan, at the G7 summit in France, according to Censor.NET.
Sanctions against the Russian Federation
"We will soon be able to do this, because the oil is already on its way. We have lifted the sanctions because, obviously, we did not want to hinder [the supply of] oil. We are in a position to do this in the near future, at some point," – said the US leader.
What led up to it?
- In March, the United States granted a 30-day licence to countries to purchase Russian oil and petroleum products that are subject to sanctions and are currently on tankers at sea. Finance Minister Scott Bessent described this move as a measure to stabilise global energy markets, which have been unsettled by the war with Iran.
- In April, the US Treasury Department granted a licence permitting the purchase of Russian oil and petroleum products by sea for a period of 30 days, despite previous statements.
- According to Bloomberg, on 16 May, US President Donald Trump’s administration allowed a special licence facilitating the sale of certain volumes of Russian crude oil to expire.
- However, some countries, notably India and Indonesia, have called on the Trump administration to extend the suspension of sanctions.
- A number of European leaders have criticised the easing of sanctions against Russia.
