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Trump: Will temporarily lift some oil-related sanctions to lower oil prices
Mars Finance News: On Monday, Trump announced at a press conference that the United States will temporarily lift some oil-related sanctions to ensure sufficient oil supply and lower prices. Trump also stated that the increase in oil prices has not reached the severity he feared. Trump said, “We have imposed sanctions on some countries. Before the Strait of Hormuz reopens to navigation, we will lift these sanctions.” However, he did not provide specific details. Last week, the U.S. issued a 30-day temporary exemption allowing the sale of currently stranded Russian oil to India to ease pressure on the global oil market.