US President Donald Trump has made it clear that he plans to reinstate oil sanctions against Russia following the signing of a peace agreement with Iran and the reopening of the Strait of Hormuz.
“We will be able to do this soon, because (oil from the Persian Gulf) is currently being supplied. We lifted the sanctions because, obviously, we do not want to hinder oil supplies. So soon… At some point, we will be in a position to do so,” said the US President, responding to a question from journalists about the reinstatement of sanctions.
In mid-March, the US partially exempted Russian oil supplied by sea from sanctions, citing a shortage of fuel on the global market. Initially, this was granted for 30 days; subsequently, the period was extended twice, each time by one month. The current exemption from the sanctions regime expires on 18 June.
The US and Iran are due to sign a ceasefire agreement in Geneva on 19 June. It provides for a 60-day truce, as well as the reopening of the Strait of Hormuz. The exact details of the deal are not yet known. After reaching an agreement with Iran, Trump stated that he would now resume efforts to resolve the conflict between Russia and Ukraine.