WASHINGTON, Tuesday, March 10, 2026 (WNP): U.S. President Donald Trump has announced plans to remove or temporarily waive certain oil-related sanctions, including restrictions affecting Russia, in a move aimed at stabilizing global energy markets amid the rapidly escalating conflict in the Middle East.

Speaking at a news conference in Florida, Trump said the United States would lift sanctions on some oil producers “until this straightens out,” referring to turmoil in global energy supplies triggered by the ongoing war involving Iran, Israel, and U.S. forces.

The announcement follows a dramatic surge in global oil prices, which briefly climbed close to $120 per barrel before retreating after Trump’s comments signaled the possibility of increased supply.

U.S. officials say the move is intended to ease pressure on global energy markets that have been disrupted by the conflict and concerns over shipping routes such as the Strait of Hormuz, a critical corridor for international oil transport.

According to reports, the policy may include temporary waivers allowing the sale or transport of previously sanctioned Russian crude oil, with the aim of expanding available supply and preventing further price spikes that could affect economies worldwide.

The U.S. Treasury had already granted a 30-day waiver for certain shipments of Russian oil, including cargoes destined for countries such as India, as part of emergency measures to maintain supply flows during the crisis.

Oil markets reacted swiftly to the announcement, with crude prices dropping sharply after days of volatility. Analysts say the prospect of increased supply from previously sanctioned producers—including Russia—could help stabilize markets that have been rattled by geopolitical uncertainty and disrupted shipments from the Middle East.

The policy shift also reflects the complex balance Washington faces between maintaining sanctions on Russia over the Ukraine conflict and addressing immediate energy shortages caused by the widening Middle East crisis.

While the White House has not detailed the full scope of the sanctions relief or specified all countries affected, officials say the measures are temporary and designed primarily to stabilize global energy markets during the current emergency.

Analysts note that easing restrictions on Russian oil exports could significantly increase available supply in global markets, but it may also trigger political debate among Western allies that previously supported strict sanctions against Moscow.

The decision underscores the growing influence of energy markets on geopolitical policy as governments attempt to manage economic stability during one of the most volatile periods for global oil supplies in recent years.