Trump admits concern about Iran and oil prices

WASHINGTON (AP) — President Donald Trump says he was concerned about rising oil prices as his administration reinstated sanctions on Iran today.

The Trump administration carved out waivers that allow eight allies and partners to continue importing oil from Iran at least for now.

He tells reporters at Andrews Air Force Base that these are the "toughest sanctions ever imposed" but "we want to go a little bit slower" to avoid causing global oil prices to spike.

"I could get the Iran oil down to zero immediately, but it would cause a shock to the market," Trump says. "I don't want to lift oil prices. And if you notice, oil prices are going down very substantially, despite the fact that already half of their capacity is gone."