US President Donald Trump said Thursday that he may reimpose sanctions on Russia, citing a sharp recent fall in oil prices, as he spoke to reporters on the sidelines of the G7 summit in France.
"I may put them back on. I wanted to make sure that oil stayed as low as possible, but now the oil price is way down, I may put it back on," Trump said, speaking to reporters after arriving in Paris.
Watch | US President Donald Trump said about sanctions on Russia, "Yeah, I may put them back on. I wanted to make sure that oil stayed as low as possible. Now that the oil price is way down, when you see those numbers, but it's way down, I may put it back on."@realDonaldTrump |… pic.twitter.com/YsQIdYjaqn
— United News of India (@uniindianews) June 18, 2026
Trump made similar remarks during his meeting with Prime Minister Narendra Modi on the sidelines of the summit, telling reporters, "We are looking at that, we're seeing how far the price of oil comes down. It's really tumbling."
In March, the US Treasury issued a 30-day waiver allowing countries to purchase Russian crude oil and petroleum products that were already loaded on vessels and stranded at sea. The waiver was later extended as the conflict involving Iran and disruptions around the Strait of Hormuz continued to pressure oil markets.
During the G7 summit, Ukrainian President Volodymyr Zelensky talked with Trump and German Chancellor Friedrich Merz about ending the conflict and defense cooperation.
Following his talks with Trump, Zelensky told reporters that it is "very important" that the next U.S. mediated talks with Russia should take place before this winter, and the location and format of the negotiations would be decided by Trump.
According to the Interfax-Ukraine news agency, Zelensky also discussed with Trump the possibility for Ukraine to produce anti-ballistic missile systems.
ALSO READ: 'Iran Never Won War, But Never Lost Negotiation': Trump's 2020 X Post Resurfaces
Earlier, Canadian Prime Minister Mark Carney announced that his government would impose new sanctions against Russia, according to Canadian reports.
On social media platform X, Zelensky thanked Carney for Canada's sanctions on more than 160 entities linked to Russia's shadow fleet.
I am grateful to Canada for its new package of sanctions against more than 160 entities linked to Russia's shadow fleet. Today, during our meeting with @MarkJCarney, we discussed strengthening sanctions pressure on Russia. And it is important that such decisions are being made.… pic.twitter.com/gFeSIcX1sg
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 16, 2026
Moreover, Britain also signaled tougher measures. Prime Minister Keir Starmer said in a post on X that he had announced sanctions on Russian vessels, money and actors, adding that Britain will increase the pressure on Russia.
Russia's attacks on Kyiv's Pershka Lavra are deplorable.
— Keir Starmer (@Keir_Starmer) June 16, 2026
Attacks like this are why I have announced sanctions to target the vessels, the money and the actors propping up Russia's war economy, and in turn, threatening European security.
We will increase the pressure on Putin…
Meanwhile, hours before the summit began Monday, Russia fired hundreds of drones and dozens of missiles at Ukraine's biggest cities in a barrage that killed 11 people and set fire to a religious landmark.
ALSO READ: Trump Publicly Rebukes Netanyahu At G7 Over Lebanon Strikes: 'Don't Have To Knock Down Building...'
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