US President Donald Trump will lift some oil sanctions due to market turmoil in connection with the war in Iran. He said this on Monday evening at a press conference in the US state of Florida.
- We are lifting certain oil-related sanctions to reduce prices, he said.
On Sunday, the price of a barrel of oil was above $100 - the highest since 2022, when Russia invaded Ukraine. Stock markets have also taken some huge plunges as a result of the war in Iran, which the US and Israel began on February 28.
Trump did not specify which sanctions would be lifted. He says he has spoken on the phone with Russian President Vladimir Putin, and he also mentions Chinese President Xi Jinping.
- We will remove the sanctions until it is resolved, says Trump.
According to several sources that the news agency Reuters has spoken to, this may include sanctions on Russian oil. Trump is sharply critical of Iran, which has said that the strategically important Strait of Hormuz is closed to all American and Israeli ships.
- We are focused on keeping the flow of energy and oil to the world going. And I will not allow a terrorist regime to hold the world hostage. If Iran does that, we will hit them much, much harder. We will wipe them out so fast that they will never recover, says Trump.
Expects price drop
He further says that he expects the price to drop again.
- We will end this once and for all, and the result will be lower oil prices. This was just a fluctuation of something that had to be done, says Trump.
Trump further says that 100 million barrels of oil have arrived at American oil refineries in Houston, Texas, from Venezuela. There is another 100 million barrels of oil on its way to the United States, he says.
The United States has begun trading with Venezuela after the American military captured President Nicolas Maduro at the beginning of the year. Vice President Delcy Rodriguez has been interim president since.
/ritzau/
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
