Trump eases restrictions on Russian oil, says ‘it will hit Iran hard’

President Donald Trump said the United States would crack down on Iran “next week,” shortly after the United States issued a 30-day partial exemption for purchases of sanctioned Russian oil in hopes of easing a rise in oil prices triggered by the U.S.-Israeli war with Iran. Trump’s changing comments on the likely duration of the war have caused price swings, prompting Iran to attack ships in the Strait of Hormuz. Trump has previously said the war is “done” and pledged to keep ships in the Strait safe. Trump said in a Fox News interview that aired Friday that the United States would escort ships heading there “if necessary.” Benchmark Brent crude fell about 0.6% to around $99.80, still up nearly 40% since the war began. After nearly two weeks of fighting, 2,000 people have been killed, mostly in Iran but many also in Lebanon and increasingly in the Gulf, which for the first time in decades is on the frontline of a conflict in West Asia. As Israeli warplanes struck Beirut suburbs with airstrikes, Lebanon’s interior minister said authorities could not accommodate the hundreds of thousands of people seeking asylum in the capital. Israel has also distributed leaflets threatening widespread destruction in Gaza, deploying more troops to fight Iran-backed Hezbollah and warning of more attacks on Lebanese infrastructure. Iran launched more missiles and drones at Israel, with Iranian drones reportedly flying into Kuwait, Iraq, the UAW, Bahrain and Oman. A massive explosion rocked a central square in the Iranian capital on Friday, where thousands of people had gathered for a state-organized annual rally to support the Palestinians and call for Israel’s demise. Israel has warned that it will target central Tehran. Iran’s Press TV said a woman was killed in the airstrike. President Masoud Pezeshkian, Foreign Minister Abbas Araqchi and Security Chief Ali Larijani were all seen on video attending rallies publicly in a show of defiance. “People are not afraid of these attacks. As you can see, people are coming out in this rain, in these sufferings,” Justice Minister Gholam Hussein Mohseni-Eje said at the march. “We will not back down in any way.” In Washington, Defense Secretary Pete Hegseth said more than 15,000 enemy targets had been hit. He also sought to address concerns about effectively closing the Strait of Hormuz, saying: “We have been dealing with this issue and there is no need to worry.” With gasoline and diesel prices rising around the world, the United States on Thursday issued 30-day licenses to countries to buy Russian oil and petroleum products already at sea – where it is not uncommon to sell cargoes or change buyers. The U.S. exemption for Russian oil was welcomed by Moscow but angered Kyiv and its allies. “Six members of the G7 expressed a very clear opinion that this is not the right signal,” German Chancellor Friedrich Merz said in Norway. “This morning we learned that the US government has apparently made a different decision.” Ukrainian President Zelensky said the move could provide Russia with $10 billion, adding: “It certainly does not contribute to peace.” Trump said in a Fox News Radio interview that aired Friday that he believed Russian President Vladimir Putin might be providing “a little bit” of help to Iran. “I think he might be helping him (Iran) a little bit, yes, I think. He might think we’re helping Ukraine, right?” Trump said on “The Brian Kilmeade Show.”