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2w ago

Trump Eases Oil Sanctions as U.S.-Israeli War With Iran Intensifies, Russia Reportedly Assists Tehran

Ukraine warns that renewed Russian oil sales would bankroll Moscow’s war.

The tanker Boracay, from Russia's so-called "shadow fleet", is pictured on October 1, 2025, off the coast of the French port of Saint-Nazaire.
Ukrainian emergency workers at the scene of a Russian drone attack on an apartment building in Kharkiv, Ukraine, on March 2.
In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin holds a meeting on the global oil and gas market situation in Moscow on March 9, 2026. (Photo by Gavriil Grigorov / POOL / AFP via Getty Images)
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Overview

  • President Trump announced temporary waivers of some oil-related sanctions to lower fuel prices, with U.S. officials granting Indian refiners a 30-day window to purchase Russian oil stranded at sea.
  • In their first call this year, Trump and Vladimir Putin discussed the Iran conflict and Ukraine, with the Kremlin citing U.S. interest in a quick ceasefire and Trump saying he pressed for ending the war.
  • Western intelligence reports say Moscow is supplying Iran with targeting information on U.S. assets in the Gulf, a role Trump publicly downplayed as not helping Iran much.
  • The U.S.-Israeli campaign against Iran continues after officials promised heavier strikes, and at least six U.S. service members have been killed in recent attacks on bases in the Gulf, with four names released.
  • Oil has surged past $100 per barrel as Hormuz traffic is disrupted, a shift that could boost Russian revenues while Ukraine shares Shahed-intercept expertise and diverts some defensive drones to help protect Gulf targets.