Trump Announces Partial Waiver Of Oil Sanctions Amid Iran Conflict, Sending Oil Prices Sharply Lower

President Trump announced a partial waiver of oil sanctions amid rising tensions with Iran.

“March 10, 2026 Former US President Donald Trump has announced he will waive some oil sanctions due to the Iran conflict's impact on markets, though he did not specify which countries or sanctions would be affected”

Pakistan Today

President Trump framed the campaign as a short-term "excursion" that is running ahead of schedule and could end "soon but not this week."

Pakistan Today

Markets reacted swiftly: oil prices softened after recent spikes, pulling the US dollar down to one-week lows as safe-haven demand eased.

Traders and analysts linked the waiver and President Trump's public remarks to an immediate calming of risk premiums in energy markets.

Trump's statements about the broader campaign included sweeping claims—he said U.S. forces had destroyed 46 Iranian naval ships and dismantled drone production facilities.

He insisted on securing the Strait of Hormuz and called for regime change in Tehran.

Pakistan Today

He described the operation as nearly "complete," and said it would continue until Iran could no longer threaten the United States or its allies.

He noted Gulf partners' backing and ongoing dialogue with China.

Market commentary cited those claims as a factor in reduced risk premia after the announcement.

Policy-makers and energy ministers moved to coordinate a strategic response.

“March 10, 2026 Former US President Donald Trump has announced he will waive some oil sanctions due to the Iran conflict's impact on markets, though he did not specify which countries or sanctions would be affected”

Pakistan Today

G7 and IEA energy ministers were reported to be meeting to finalise a coordinated emergency oil reserve release.

U.S. officials were reported to be pushing for a historic joint release of 300–400 million barrels, well above the 180 million barrels released in 2022.

That prospect, together with the partial waiver, was presented in reporting as a central driver of the sharp fall in oil prices.

Producers and exporters also moved to calm markets.

Saudi Aramco said it had not disclosed current output levels but was preparing to restart the Ras Tanura refinery and expected to restore curtailed production within days using about 2 million barrels per day of spare capacity.

Pakistan Today

The company was reported to face a 180-million-barrel disruption and a temporary export halt at one terminal but said other refineries remained operational and the East-West pipeline was being ramped up to reroute customers.

These operational notes, combined with the diplomatic and strategic measures, helped push oil back from over $100 a barrel and ease inflation and stagflation concerns that had threatened to delay U.S. rate cuts.