The US may reinstate sanctions against Russian oil

The US may reinstate sanctions against Russian oil

US President Donald Trump said this to reporters at the G7 summit. Asked about the possibility of tightening sanctions against Russia, he replied:

Well, we’ll soon have the opportunity to do that, because oil is now coming onto the market. We lifted the sanctions because, obviously, we didn’t want to interfere with oil supplies, so we’ll soon be in a position where we can do it at some point.

In March, amid the war with Iran, the US issued a license that allowed Russian oil to be purchased on the global market. On May 18, it was extended for 30 days. The day before, the US and Iran signed a ceasefire memorandum. The document implies that the Strait of Hormuz will be open to shipping.

@meduzalive