Trump says US is waiving certain oil-related sanctions to ensure supply

US President Donald Trump ​said on Monday that the ‌United States is waiving certain oil-related sanctions as a way to ensure ​adequate oil supply and lower ​prices, Reuters reports.

At a news conference at his ⁠Doral golf club, Trump ​said oil prices have not spiked ​as much as he had feared.

Trump said the United States is waiving certain ​oil-related sanctions to cut ​prices.

"We have sanctions on some countries. We're ‌going ⁠to take those sanctions off till the Strait (of Hormuz) is up," Trump said, according to Reuters.

He was not specific, ​but the ​United ⁠States last week issued a temporary, 30-day waiver ​to allow for the ​sale ⁠of Russian oil currently stranded at sea to India to alleviate ⁠pressure ​on the global ​oil market.

President Trump also threatened the Iranian regime against halting the flow of oil through the Strait of Hormuz amid the war. “If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” the president wrote on his Truth Social platform.