US President Donald Trump stated that sanctions against Russia will be lifted “at some point.” This comes as the US and Russia renew contact, discussing ways to end the war in Ukraine and resume economic cooperation.
The US has imposed extensive sanctions on Russia’s oil sector, targeting nearly 200 vessels and key oil companies, which has impacted the global oil market, pushing Brent crude prices up by nearly $5 per barrel. Trump’s administration is weighing options to either impose additional sanctions or focus on good-faith measures to benefit sanctioned Russian oil producers.