Lifting sanctions against Russia would be “self-destructive,” said Commissioner Valdis Dombrovskis following Donald Trump’s announcement regarding this option, while the war in the Middle East has caused oil prices to skyrocket, according to Euronews.
President Donald Trump, whose ultimate goal in Iran is unclear to Western allies, has suggested suspending US sanctions on foreign oil, in an attempt to reduce global prices, calm panicked investors, and limit the consequences of the war he launched.
“We have sanctions on some countries. We will give up these sanctions until things are resolved,” Trump said on Monday.
Trump did not name the countries that would benefit from the exemption, but his words suggested a generalized approach. The US currently sanctions oil trade with Iran, Venezuela, Syria, North Korea, and – most importantly for Europeans – with Russia.
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