‘Dip’ over 2% are priced oil Tuesday, because of the foreign policy of the US president Donald Trumpwho is making the diplomatic moves for peace in Ukraine, prepares for a former allied trade war and is planning further sanctions in Iran.

In particular, May Brent loses $ 2.58% or $ 1.93 at $ 72.39 a barrel. At the same time, the US Crude WTI slides $ 2.67% or $ 1.89 at $ 68.81 a barrel.

A Trump peace agreement with Moscow “foreshadows the lifting of Russian sanctions, possibly bringing unlimited Russian offering back to the market,” said Tamas Varga, a senior PVM executive.

Trump is also preparing for a trade war with Canada, Mexico and European allies.

The US president said on Monday that the duties against Canadians and Mexican imports scheduled to begin on March 4 are “on time and in the timetable”, despite the efforts of the two commercial partners to reassure Trump’s concerns about security about security of borders and fentanyl. Analysts say duties will be negative for increasing global oil demand.

Meanwhile, Trump’s “maximum pressure” campaign against Iran to stifle oil exports continued on Monday, as the US hit Iran with a second package of sanctions this month.

Iran is the third largest oil producer in OPEC, drawing 3.2 million barrels per day in January, according to a Reuters survey of OPEC production.

Also, on Monday, on the third anniversary of Russia’s invasion of Ukraine, the EU recorded 73 ships that allow sanctions to bypass, known as a “shadow fleet”, while Britain imposed penalties on 40 ships to transport Russian oil.