Trump says U.S. could reinstate sanctions on Russian oil shipments as Hormuz flows resume

U.S. President Donald Trump said at the G7 summit that Washington could soon reimpose sanctions on Russian oil shipments that had been eased to help cool oil prices, citing renewed oil flows through the Strait of Hormuz. The U.S. temporarily loosened some restrictions in March and extended the waiver as the war in the Gulf dragged on. The U.K. separately announced new sanctions targeting Russia’s “shadow fleet” used to ship oil and gas and financial networks used to evade Western measures, including vessels tied to the Arctic LNG 2 project.