Trump: Will Temporarily Lift Some Oil-Related Sanctions to Lower Oil Prices

Odaily News Trump stated at a press conference on Monday that the United States will temporarily lift some oil-related sanctions to ensure sufficient oil supply and lower oil prices. Trump also said that the increase in oil prices has not reached the severe level he was concerned about. Trump stated: "We have imposed sanctions on some countries. We will cancel these sanctions before navigation resumes in the Strait of Hormuz." However, he did not provide specific details. Last week, the United States issued a 30-day temporary exemption allowing the sale of Russian oil currently stranded at sea to India to alleviate pressure on the global oil market. (Jin10)