US President Donald Trump has announced plans to waive oil-related sanctions on "some countries" to address the shortage caused by the US-Israeli war on Iran, following a phone call with Russian President Vladimir Putin. Speaking to reporters in Florida on Monday, Trump said, "So we have sanctions on some countries. We're going to take those sanctions off until the strait [of Hormuz] is up," without providing further details. The move could lead to a further easing of sanctions on Russian oil, potentially complicating efforts to punish Moscow for its war in Ukraine, according to Reuters sources.
The Strait of Hormuz remains largely blocked to oil tankers, pushing benchmark crude prices above $100 a barrel on Monday for the first time since Russia's invasion of Ukraine in 2022. A White House plan to provide naval escorts and insurance for tankers has failed to significantly boost traffic. Last week, the US issued a temporary waiver allowing India to purchase certain Russian oil cargoes to cope with lost Middle Eastern supply.
Trump described his conversation with Putin as upbeat, noting they discussed Ukraine, which he called "a never-ending fight." Putin's foreign affairs adviser Yuri Ushakov said the call lasted about an hour and was "frank and businesslike." Putin signalled Russia's readiness to supply oil and gas to Europe, warning that the Iran war had caused a global energy crisis and that oil production dependent on Hormuz transit could halt. He added that Russian companies should exploit the situation, though the price spike was likely temporary.
Ukrainian President Volodymyr Zelenskyy revealed he sent interceptor drones and operators to protect US bases in Jordan last week, responding to one of 11 requests from countries including the US and European states for help amid the Iran conflict. Zelenskyy said Ukraine was ready for new US-backed peace talks with Russia "at any moment," but partners' attention was now on Iran, and the US had asked to postpone a meeting.
In Ukraine, a Russian drone strike near a high-rise in Kharkiv injured six people, including a small child, and set cars ablaze, according to Mayor Ihor Terekhov. Separately, Russian shelling of Dnipro injured seven, regional governor Oleksandr Ganzha reported. Ukraine also urged the Venice Biennale to reconsider Russia's participation, arguing it must not become "a stage for whitewashing war crimes."
