US President Donald Trump on Tuesday said Washington would soon be in a position to reimpose sanctions on Russian oil shipments after crude flows resumed through the Strait of Hormuz following a deal with Iran to end the Middle East conflict.Speaking on the sidelines of the G7 summit in France, Trump said, “Soon we will be able to do that as the oil is now flowing” through the Strait of Hormuz after the agreement with Iran, as quoted by Reuters.The remarks came as G7 leaders discussed ways to increase pressure on Moscow over its invasion of Ukraine, with sanctions targeting Russia’s energy sector among the measures under consideration.
Sanctions waiver had eased oil market pressure
The United States had earlier imposed and extended a temporary sanctions waiver allowing certain Russian oil cargoes already at sea to continue moving, a move that had raised concerns among some European allies seeking stronger action against Moscow.Washington had eased some sanctions on Russian oil shipments in March as crude prices surged sharply, with the waiver later extended as the Ukraine war continued.The waiver was introduced when global crude markets faced supply concerns due to conflict in West Asia and disruptions around the Strait of Hormuz, a key energy transit route.
G7 focuses on Ukraine and global stability
The comments came during the first full day of the G7 summit in Evian-les-Bains, France, where leaders of the Group of Seven nations discussed the Russia-Ukraine war and the aftermath of the US-Iran conflict.According to AP, Trump said after announcing the Iran agreement that Washington would now shift its focus towards ending the war in Ukraine.“Now that this (Iran) is finished, we’re going to be focusing on that,” Trump said, referring to efforts to resolve the Russia-Ukraine conflict.Ukrainian President Volodymyr Zelenskyy told reporters that G7 leaders remained united in supporting Ukraine and believed Kyiv was ready for talks aimed at securing a ceasefire, while accusing Russia of not showing serious intent towards peace.“The entire ‘Seven’ supports Ukraine unanimously today,” Zelenskyy said.The G7 discussions also came amid broader concerns over energy security and sanctions enforcement.European leaders have been pushing for tougher measures against Russia’s oil and gas revenues, which remain a major source of funding for Moscow’s war effort.Trump’s latest remarks suggest the US could again tighten restrictions on Russian oil exports if global supply conditions remain stable after the reopening of the Strait of Hormuz.
