Trump to loosen oil sanctions to manipulate prices

Washington — United States President Donald Trump stated on Monday (9 March) that he will relax oil sanctions against several nations to manipulate prices downward.

“We are also lifting various oil-related sanctions to lower prices. So we have sanctions on some countries and we will lift those sanctions until the situation improves,” Trump said during a press conference.

Trump added that the United States may not reimpose those sanctions after they are lifted, as peace will be restored. He argued that oil prices have risen artificially following the commencement of military operations against Iran.

“We are trying to keep oil prices down. Oil prices rose artificially because of these efforts, which is very positive. I mean, this is something many people would not do. I know oil prices would rise if I did this, and perhaps the increase is smaller than I expected, but I think we would not succeed this quickly. This is a military success,” he explained.

On 28 February, the United States and Israel launched strikes against Iran, including in Tehran, resulting in damage and civilian casualties. Iran retaliated by attacking Israeli territory and US military facilities in the Middle East.

The United States and Israel initially claimed their strikes were necessary to counter threats stemming from Iran’s nuclear programme. However, the two nations subsequently clarified that the strikes were conducted because they wished to see a change of power in Iran.

Iran’s Supreme Leader Ayatollah Ali Khamenei died on the first day of the US-Israeli military operation. The Islamic Republic of Iran declared 40 days of mourning.

Russian President Vladimir Putin described Khamenei’s killing as a cynical violation of international law. Russia’s Foreign Ministry condemned the US-Israeli operation and called for immediate de-escalation and cessation of hostilities.