Trump Extends Sanctions Exemption on Some Russian Oil as High Gas Prices Persist

President Trump extended a sanctions exemption on some Russian oil, a move announced as high gas prices continue to affect consumers. This decision allows certain entities to bypass sanctions related to Russian oil, aiming to mitigate rising fuel costs domestically. The White House made this announcement hours after Iran declared the Strait of Hormuz open to commercial ships, a key global oil transit choke point. The extension suggests the administration is balancing geopolitical pressures with efforts to stabilize energy markets.