US may soon reimpose sanctions on Russian oil once Hormuz reopens: Trump

US President Donald Trump today (16 June) said Washington may soon reimpose sanctions on Russian oil once the Strait of Hormuz is reopened to international vessels, after his administration eased restrictions over concerns about global energy supplies.

Speaking at a press conference during the G7 summit in Evian, France, Trump said the United States had temporarily relaxed sanctions to avoid disrupting oil flows amid tensions surrounding the strategic waterway, reports Euronews.

"We'll be able to do that because the oil is now flowing," Trump said in response to a question on whether he was considering increasing sanctions on Russia. "We took sanctions off because obviously we're not looking to impede the oil. We are in a position to do that soon."

The remarks came after G7 leaders held discussions on Ukraine and the Middle East during the summit.

Washington's decision to ease some restrictions on Russian oil had drawn criticism from Ukraine and its allies, who have been pushing for greater economic pressure on Moscow over the war in Ukraine.

In recent weeks, the US Treasury Department issued waivers allowing countries affected by energy shortages linked to the Iran conflict to purchase Russian seaborne oil that was already stranded at sea.

Trump said the restrictions could be restored now that oil supplies have stabilised and shipping through the Strait of Hormuz is expected to resume.

The US president said a framework agreement had been reached between Washington and Tehran to help ease tensions, with one element involving reopening the Strait of Hormuz for international vessels without tolls. Details of the agreement have not been publicly disclosed.

The second day of the G7 summit is underway in France, with discussions focusing on Russia's war in Ukraine, the Middle East situation and international cooperation.