Washington: U.S. President Donald Trump and Russian President Vladimir Putin engaged in a phone conversation to address the ongoing conflict in Iran and explore peace prospects in Ukraine. This dialogue marks their first phone interaction this year, occurring shortly after Putin highlighted the risks posed by the global energy crisis to the world economy.

According to Thai News Agency, the recent attacks by the United States and Israel on Iran have led to a significant surge in oil prices, reaching levels not seen since the aftermath of Russia's invasion of Ukraine in 2022. This increase follows the decision by Gulf oil producers to cut production due to the closure of the Strait of Hormuz.

The Kremlin confirmed that President Trump initiated the call with President Putin, where they discussed strategies for resolving the conflict in Iran, the military dynamics in Ukraine, and the influence of Venezuela on the global oil market. During a press conference in Florida, President Trump expressed satisfaction with the conversation, noting Putin's willingness to assist with the situation in Iran. He also encouraged Putin to aid in ending the conflict between Russia and Ukraine.

The phone call coincided with Putin's warning about the potential disruption of oil production reliant on the Strait of Hormuz, amid ongoing U.S. and Israel military actions against Iran. Putin emphasized Russia's readiness to collaborate with European partners for long-term energy cooperation, given its position as a leading oil and gas exporter.

In response to the volatile energy markets, the Trump administration is contemplating the relaxation of sanctions on Russian oil. Sources suggest an announcement could be imminent, possibly by Monday, aiming to boost the global oil supply affected by the Middle Eastern conflict. However, this potential policy shift may also impact U.S. strategies to limit Russia's financial resources that fund the conflict in Ukraine.