- Trump said he was not concerned about rising fuel prices amid the Iran conflict and oil supply disruptions
- He was asked about India waiver on Russian oil and whether he was willing to take other steps to ease pressure
- "If there were some, I would do it, just to take a little of the pressure off," he said
US President Donald Trump on Sunday said he was not concerned about rising fuel prices amid the ongoing Iran war, which has roiled global markets and sent oil prices skyrocketing with the Strait of Hormuz -- a key artery for global energy supplies -- effectively shut.
Asked by a reporter on Air Force One about giving India leeway on oil purchases from Russia and whether he was willing to take other steps to ease pressure on global energy markets, Trump said the administration was prepared to act if necessary.
"If there were some, I would do it, just to take a little of the pressure off," he said.
He also appeared to wave off the possibility of tapping the US' Strategic Petroleum Reserve, saying they have a "lot of oil". The reserve — a supply of oil that the US government can use in case of emergencies — held more than 415 million barrels as of the end of last month.
"We've got a lot of oil. Our country has a tremendous amount," Trump told reporters.
"There's a lot of oil out there. That'll get healed very quickly," he said.
US' Russian Oil Waiver For India
Treasury Secretary Scott Bessent on Friday said the US was issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.
"This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea," he wrote on X.
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"India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of US oil. This stop-gap measure will alleviate pressure caused by Iran's attempt to take global energy hostage," he said.
Trump had last year slapped India with 25 per cent tariffs for buying oil from Moscow, with his administration claiming that it was "fuelling" Russia's war against Ukraine.
Washington had also made reducing purchases from Moscow a key condition in the India-US interim tariff framework agreement announced last month. The Trump administration had also agreed to waive the 25 per cent tariffs on assurances New Delhi will scale back Russian purchases.
US-Israel-Iran Tensions
The Middle East has been plunged into chaos after the US and Israel carried out joint strikes on Iran last Saturday, killing 86-year-old Supreme Leader Ayatollah Ali Khamenei.
In response, Iran has been launching missiles at Israel and at American military bases in Gulf countries.
According to reports, more than 1,000 people have so far been killed in Iran and over a dozen in Israel. At least six US troops have also been killed in the war.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have claimed that they launched strikes on Iran as it posed an imminent threat.
"If we didn't do it first, they would have done it to Israel and give us a shot, if that was possible," Trump has said.
