Trump paused Russia sanctions to 'analyse' impact on global economy: Rubio

US Secretary of State Marco Rubio explained on Saturday that President Donald Trump had granted a 60-day pause to analyze the potential impact of sanctions and tariffs on the global economy. Trump wanted to assess the implications of these economic restrictions, which affected multiple countries, on both the US and global economies.

The economic challenges were attributed to various conflicts, including the US war on Iran and attacks on Saudi Arabia by Yemen's Houthis. These conflicts were interconnected and causing fluctuations in global oil and diesel prices, as well as affecting economies worldwide.

Rubio noted that the economic impact of the sanctions and tariffs was not limited to Russia, as various global conflicts were contributing to the current energy price crisis. He emphasized the importance of the diesel fuel, which was crucial for US road hauling, agriculture, and construction industries. The US President's decision to waive these sanctions and tariffs sparked criticism from US lawmakers from both political sides, who expressed concern over the potential consequences on global energy prices and the economy.