US-Israel-Iran War Live News: Brent crude oil futures fell to $107.92 per barrel in Monday morning trading, dropping by over 1.5%. The sharp decline follows U.S. President Donald Trump’s executive order signed late Friday, which waived key sanctions and tariffs on Russia and major buyers of Russian energy.
US-Israel-Iran War Live News: Drivers Behind Market Move
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Sanctions Pause: Trump suspended sweeping measures under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 just days before they were set to take effect. The law threatened up to 100% tariffs on countries (like India and China) importing Russian oil and gas.
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Increased Supply Expectations: By waiving these penalties, the market expects less restriction on global Russian energy trade, easing tight global energy supplies.
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Domestic U.S. Pressures: The administration is leveraging the waiver—alongside a recent U.S.-Russia diesel import deal—to combat months of rising domestic fuel costs ahead of the upcoming midterm elections.
US-Israel-Iran War Live News: 60-Day Assessment Framework
U.S. Secretary of State Marco Rubio announced that the administration will utilize a 60-day review period to rigorously evaluate the macroeconomic consequences of the legislation.
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