Trump announces sanctions relief to ease oil prices, says Iran war to end 'very soon' [View all]

Source: MarketWatch

Published: March 9, 2026 at 6:44 p.m. ET


President Donald Trump said the U.S. is waiving oil-related sanctions on certain countries in an effort to ease crude prices, as he estimated the war with Iran would end “very soon.” “So in some countries, we’re going to take those sanctions off until this straightens out,” Trump said in remarks to reporters in Doral, Fla.

The president spoke after U.S. stocks SPX +0.83% staged a comeback and oil prices CL.1 -7.05% BRN00 -9.27% retreated from highs as investors priced in the possibility of a coordinated emergency release of oil reserves.

Trump didn’t name countries on which his administration is mulling the reduction of sanctions. Earlier Monday, Reuters reported that the White House was weighing further easing of sanctions on Russia. The U.S. has allowed India to buy Russian oil without being penalized by the Trump administration. Trump spoke with Russian leader Vladimir Putin on Monday.

Trump predicted a “short-term excursion” in Iran but also suggested U.S. involvement there would continue. “We could go further, and we’re going to go further,” he said. Earlier Monday, Trump told a CBS reporter that the conflict with Iran could end soon, saying he thought the war was “very complete, pretty much.” He said Iran has no navy, communications or air force.

Read more: https://www.marketwatch.com/story/trump-announces-sanctions-relief-to-ease-oil-prices-says-iran-war-to-end-very-soon-ab0ee595