Report: After Trump signed the Iran nuclear agreement, the exemption for Russian oil sanctions expired and became ineffective.

The Trump administration quietly allowed one of the sanctions on Russian oil to expire after the President signed an agreement related to Iran and international energy prices were relieved. The Iran agreement signed by Trump at the Palace of Versailles on Wednesday extended the American ceasefire deadline by 60 days, allowing oil tankers to pass through the Strait of Hormuz freely again. At the G7 summit in France on Wednesday, Trump told reporters that he is considering resuming sanctions on the transportation of Russian crude oil by sea. The United States temporarily relaxed the sanctions in March this year in order to ease the global energy crisis caused by the US-Iran conflict. "We are observing the rapid decline in oil prices, which is very sharp at the moment," Trump said. The US Treasury Department subsequently made it clear that they would not extend the exemption of the sanction, and it officially expired at midnight on Wednesday.