- US reviews sanctions on Russian oil amid sharp global crude price decline
- Trump notes oil prices tumbling to levels seen four months ago
- Energy market linked to efforts to prevent Iran from acquiring nuclear weapons
US President Donald Trump said Washington is reviewing sanctions related to the import of Russian oil, while pointing to a sharp decline in global crude prices.
Responding to a question from NDTV's Vishnu Som on whether the US was considering action on the import of Russian oil, Trump said, "Sanctions on the import of oil. We are looking at that."
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He added that the administration was closely monitoring oil prices before taking further steps.
"We're seeing how far the price of oil comes down. It's really tumbling. It's, I guess, $74-$75 right now. So it's down. It's soon going to be at the number that it was four months ago. It's pretty amazing," Trump said.
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The US President also linked energy market developments to ongoing efforts to curb Iran's nuclear ambitions.
"And on top of that, we will have an Iran without a nuclear weapon, which I can tell you the Prime Minister feels very strongly about that too," Trump added.
Trump made the remarks during a bilateral meeting with Prime Minister Narendra Modi on the sidelines of the G7 Summit in Évian-les-Bains, France, on Wednesday. The meeting marked the first official face-to-face engagement between the two leaders since their White House talks in February 2025.
Earlier in the day, Modi warned that the ongoing crisis in West Asia could have prolonged economic consequences for developing nations by disrupting food, fuel and fertiliser supply chains.
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Addressing the G7 Outreach Session on "Reviving a Balanced, Shared and Sustainable Economic Growth for All", the Prime Minister said the impact of global crises should not fall disproportionately on countries of the Global South and called for greater international support for vulnerable economies.
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