Mar 19 • 04:30 UTC 🇪🇸 Spain El País

Trump's desperate attempts to curb the rise in oil prices

Former President Trump has taken several measures, including lifting sanctions on Russia and releasing oil reserves, in an attempt to control surging oil prices in the U.S.

Former President Donald Trump has resorted to desperate measures to curb the rising oil prices in the United States, which are currently experiencing their highest increase in decades. Amid a backdrop of escalating tensions and conflict in the Middle East, particularly with Iran, Trump's administration has lifted sanctions on Russia and released 40% of the nation's crude reserves to alleviate the financial burden on citizens. This rise in fuel prices is significant because it comes just over six months before the midterm elections, where Trump's political fortunes could be heavily impacted by the ongoing energy crisis.

The situation has been exacerbated by military actions in the region, particularly the blocking of the Strait of Hormuz by Iranian forces in response to U.S. and Israeli bombings. Such actions have further strained the global oil supply, making it exceedingly difficult for the U.S., despite its status as the world's leading crude oil exporter, to manage the escalating prices. The Biden administration has recognized these challenges but has yet to implement effective strategies to mitigate the energy crisis that is starting to take a toll on American households.

As the political landscape shifts closer to the midterm elections, the economic implications of these soaring gas prices could have profound effects on voter sentiment. Trump's ongoing attempts to stabilize the situation reflect not just a response to immediate economic conditions but also highlight the intricate ties between foreign policy and domestic economic stability. The unfolding crisis creates a pivotal challenge for Trump and his party, as they seek to navigate public perception and rally support in what is predicted to be a challenging electoral environment.

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