Doral, Florida, March 9 - President Donald Trump said on Monday that the United States will waive certain oil-related sanctions as a measure to secure adequate oil supplies and to push down prices.
Speaking at a news conference held at his Doral golf club, the president said that oil prices "have not spiked as much as he had feared," and that lifting some sanctions was a tool the administration would use to blunt upward pressure on energy costs.
"We have sanctions on some countries. We’re going to take those sanctions off till the Strait (of Hormuz) is up," he said. The president did not identify which specific sanctions would be removed during the temporary easing.
In a related action described by the administration, the United States last week issued a temporary, 30-day waiver to allow for the sale of Russian oil currently stranded at sea to India. That waiver was framed as a move to alleviate pressure on the global oil market.
Context and immediate intent
The measures described by the president are presented as short-term steps intended to address supply disruptions and price pressure in the oil market. The temporary 30-day waiver affecting Russian cargoes at sea is a concrete example cited by the administration to illustrate how sanctions policy may be adjusted to influence market conditions.
What was said publicly
The president emphasized that the decision to remove some sanctions would remain in place until he assessed that conditions around the Strait of Hormuz had improved - a phrase he used verbatim: "till the Strait (of Hormuz) is up." Beyond that statement, he did not offer additional specifics on timing, scope, or which sanctions would be affected.
Impacted areas
- Energy markets - the actions are presented as intended to increase available supply and place downward pressure on prices.
- Global oil trade - the temporary waiver allowing the sale of Russian oil at sea to India is cited as a direct intervention in the flow of crude cargoes.
- Shipping and logistics - decisions about cargo sales and sanctions waivers affect vessels and cargoes currently unable to discharge.
This account reflects the statements made at the Doral news conference and the temporary waiver issued last week; further details about specific sanctions to be waived were not provided during the remarks.