President Donald Trump ​said on Monday that the ‌United States is waiving certain oil-related sanctions as a way to ensure ​an adequate oil supply and lower ​prices.

At a news conference at his ⁠Doral golf club, Trump ​said oil prices have not spiked ​as much as he had feared.

Trump said the United States is waiving certain ​oil-related sanctions to cut ​prices.

"We have sanctions on some countries. We're ‌going ⁠to take those sanctions off till the Strait (of Hormuz) is up," Trump said.

He was not specific, but the United States last week issued a temporary 30-day waiver to allow the sale of Russian oil currently stranded at sea to India to alleviate pressure on the global oil market.