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Trump Mulls Sanctions as Oil Prices Plunge

6/18/2026

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Story summary
  • President Donald Trump told at the G7 summit in France that the U.S. is monitoring falling oil prices before deciding on sanctions.
  • President Donald Trump said the U.S. could soon re-impose sanctions because oil now flows from the Middle East after the Treasury let the Russian oil sanctions waiver expire at midnight without extension.
  • U.S. envoys Steve Witkoff and Jared Kushner are scheduled to travel to Russia in coming days.