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The United States may soon restore sanctions targeting Russian oil, as the global supply situation is improving. U.S. President Donald Trump made the remarks, according to UATV English, citing The Guardian.
According to U.S. President Donald Trump, the restrictions were previously eased temporarily in order to avoid disruptions to global oil supplies. The current exemptions for Russian oil are set to expire tomorrow.
The United States has previously extended these waivers several times, allowing part of the Russian oil stranded at sea to be sold despite existing sanctions.
Asked whether the United States could increase sanctions pressure on Russia, Trump suggested that restrictions on Russian oil exports could soon be reintroduced.
“Well, we may be able to do that soon because oil is being supplied now. We lifted the sanctions because, obviously, we did not want to interfere with oil supplies. So soon… at some point, we will be in a position to do that,” he said.
As a reminder, in March, the United States effectively suspended part of its sanctions against Russia by allowing the export of Russian oil and petroleum products that had already been loaded onto tankers.
Washington justified the move by citing disruptions in global energy markets caused by tensions involving Iran and restrictions affecting the Strait of Hormuz, which complicated oil supplies from the Middle East and drove up global crude prices.
The exemptions were initially intended to remain in effect for only 30 days, but U.S. authorities extended them several times at the request of a number of countries.
Russia’s state budget, including its military expenditures, remains heavily dependent on oil revenues.
The decision to ease sanctions was also criticized by Ukrainian President Volodymyr Zelenskyy, who argued that Russia, which continues to carry out strikes against civilian targets, does not deserve relief from economic restrictions.
Read also: Trump After Meeting with Zelenskyy: Russia Must Make a Deal
