Trump's oil strategy faces twin tests: Houthi strikes on Saudi, Russian diesel license deadline
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US President Trump has lifted sanctions on Russia, a significant reversal of prior policy that could reshape transatlantic relations and energy flows. Separately, Ireland faces domestic pressure to crack down on drug-related intimidation after a Waterford attack, while a planned public sector strike was suspended. The sanctions move is the primary market-relevant development, though its full scope and conditions remain unclear.
President Trump has unilaterally suspended or blocked new and existing congressional sanctions against Russia, including those targeting oil buyers and diesel transactions, citing national interest and energy price relief. This policy reversal, confirmed by multiple sources, has been met with strong criticism from a bipartisan group in Congress who view it as a betrayal of Ukraine. The full scope and duration of the suspensions remain unclear, but Moscow has hailed the move as historic.
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