Trump, Putin talk of war and peace as US weighs easing Russian oil sanctions
By Guy Faulconbridge, Vladimir Soldatkin and Jarrett Renshaw
MOSCOW, March 10 (Reuters) – U.S. President Donald Trump and his Russian counterpart Vladimir Putin discussed the war in Iran and hopes for peace in Ukraine on Monday, just hours after the Kremlin chief warned that a global energy crisis threatens the world economy.
The US and Israeli attack on Iran has triggered the biggest rise in oil prices since turmoil after Russia invaded Ukraine in 2022, as Gulf producers cut production following the closure of the Strait of Hormuz.
Trump called Putin in the leaders’ first phone call this year and they discussed Russian ideas for a quick end to the conflict in Iran, the military situation in Ukraine and Venezuela’s influence on the global oil market, the Kremlin said.
“I had a very good meeting with President Putin,” Trump said at a press conference at a Florida golf club, adding that Putin wanted to help with Iran.
“I said, ‘You can be more useful by ending the Ukraine-Russia war.’ This will be more useful.”
The call came just hours after Putin said the US-Israeli war against Iran had triggered a global energy crisis and warned that oil production, which depends on transportation via the Strait of Hormuz, could soon grind to a halt.
Putin said Russia, the world’s second-largest oil exporter and owner of the largest natural gas reserves, was ready to work again with its European customers if they wanted to return to long-term cooperation.
US SANCTIONS
Amid turmoil in global energy markets, the Trump administration is considering reducing oil sanctions on Russia and could be announced as soon as Monday, according to three sources familiar with the planning.
The move would be aimed at boosting world oil supplies after major disruptions to Middle East shipments due to the widening conflict, but it could also complicate U.S. efforts to deprive Russia of revenue from its war in Ukraine.
In addition to broad sanctions relief, the talks could include more targeted options for certain countries, such as India, to buy Russian oil without fear of U.S. penalties, including tariffs, sources speaking on condition of anonymity told Reuters.
Last week, the US allowed India to temporarily purchase Russian crude oil currently in tankers at sea to cope with supply disruptions in the Middle East.
Kremlin foreign policy aide Yuri Ushakov said the meeting with Trump was “very important” and “is likely to be of practical importance for further work between the two countries.”
Ushakov said Trump believes it is in the United States’ interest for “a quick end to the conflict in Ukraine with a ceasefire and a long-term solution.”
The advance of Russian troops in Ukraine should prompt Kiev to seek a negotiated end to the conflict, he added.
(Reporting by Dmitry Antonov and Maxim Rodionov; Writing by Vladimir Soldatkin and Guy Faulconbridge, Editing by Ron Popeski, Alistair Bell and Clarence Fernandez)
