President Donald
Trump said on Monday that the United States is waiving certain
oil-related sanctions as a way to ensure adequate oil supply and
lower prices.
At a news conference at his Doral golf club, Trump said oil
prices have not spiked as much as he had feared.
Trump said the United States is waiving certain oil-related
sanctions to cut prices.
“We have sanctions on some countries. We’re going to take
those sanctions off till the Strait (of Hormuz) is up,” Trump
said.
He was not specific, but 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 to alleviate pressure on the
global oil market.