Trump says some sanctions to be lifted on oil producers amid Iran war

Al JazeeraCenterEN 2 min read 100% complete by John PowerMarch 10, 2026 at 03:51 AM

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Amid the ongoing US-Israeli war on Iran in March 2026, President Trump announced the US would lift some sanctions on oil-producing countries to stabilize energy prices, which had experienced significant volatility. Crude oil prices initially surged to nearly $120 a barrel following the conflict's start on February 28th, then plummeted below $90. While Trump did not specify which countries would receive sanctions relief, the US currently sanctions the oil sectors of Russia, Iran, and Venezuela. Reuters reported that easing sanctions on Russia was under consideration, and a 30-day waiver on Russian oil sales to India had already been announced. The war and subsequent closure of the Strait of Hormuz have disrupted global oil supplies, contributing to market instability.

Key Entities & Roles

Key Player Opposition Context

Miami, Florida 30% Venezuela 40% US Treasury 40% Reuters 40% Scott Bessent 50% Russia ×260% Strait of Hormuz 60% Israel ×270% Iran ×480% United States ×280% Donald Trump ×590%

Keywords

oil prices 100% sanctions 90% iran war 80% oil production 70% energy prices 60% global oil supply 50% strait of hormuz 50% russia 40% us-israeli war 40%

Sentiment Analysis

Negative

Score: -0.20

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Source

Al Jazeera

Political Lean

Center (0.00)

Far LeftCenterFar Right

Classification Confidence

90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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oil prices sanctions iran war oil production energy prices global oil supply strait of hormuz russia us-israeli war

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