U.S. President Donald Trump is considering easing sanctions on Russian oil to rein in the surge in oil prices since the outbreak of the Iran war.

At a press conference on the 9th (local time) at the Doral resort in Florida, President Trump hinted at the possibility of easing sanctions to stabilize oil prices.

He said, “We are imposing sanctions on some countries, but we will lift those sanctions until the (Hormuz) strait returns to normal.”

Although President Trump did not specify which countries would see sanctions lifted, Russian oil is being mentioned as a likely target.

On the 5th, the United States had already temporarily allowed India to purchase Russian oil for 30 days.

U.S. Treasury Secretary Scott Besant also on the 6th raised the possibility, saying, “We could also lift sanctions on other Russian oil.”

According to multiple sources, options for easing sanctions on Russia under consideration range from broad sanctions relief to allowing specific countries to purchase Russian oil.

The Trump administration has pulled out the sanctions-relief card because the Iran war has choked the Strait of Hormuz, causing international oil prices to swing. As the war has continued for more than a week, international oil prices at one point exceeded $100 per barrel.

With the midterm elections coming in November, there is inevitable concern about the damage to U.S. businesses and consumers from the sharp rise in global oil prices.

Experts assess that unless the Strait of Hormuz, through which about 20% of global seaborne oil shipments pass, returns to normal, the options available to the White House are limited. Reuters reported that a source involved in the matter said, “The problem is that the options are measures with only minimal or symbolic effect, or even very unwise ones.”

Another concern is that easing sanctions on Russian oil could make it harder for the United States to cut off funding for the war Russia is waging in Ukraine.