President Donald Trump said that America is lifting oil sanctions on some countries in an effort to reduce crude oil prices. Also said that the war with Iran will end very soon. Speaking to the media in Doral, Florida, Trump said, "So in some countries we are lifting these restrictions until the situation returns to normal."
The President said this when the prices of oil and gas have increased in many countries including America. Trump did not name any country on which he is going to lift the sanctions. Earlier on Monday, Reuters had reported that the White House was considering further relaxation of sanctions imposed on Russia.
America has already given permission to India to buy Russian oil without any penalty. Trump spoke to Russian leader Vladimir Putin on Monday. Trump also said that there could be a small conflict with Iran, but he also indicated that the US will remain involved there for some time. “We can go further and we will go further,” he said. Due to which there are indications that America may bomb Iran more aggressively.
Trump: "We're also waiving certain oil-related sanctions to reduce prices. So we have sanctions on some countries, we're gonna take those sanctions off until this straightens out. Who knows — maybe we won't have to put them on, there will be so much peace." pic.twitter.com/qseD3VmgDi
—Aaron Rupar (@atrupar) March 9, 2026
On Monday, Trump told a CBS reporter that the conflict with Iran could soon be over and said he felt the war was almost over. He said that Iran does not have a navy, communications or air force. On Monday, there were indications that the countries included in the G7 group of seven powerful countries were discussing emergency release of crude oil reserves.
US and global benchmark prices climbed to a high of nearly $120 a barrel in overnight trading, but prices later declined as investors eyeed possible G-7 action.
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