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Putin–Trump Hour-Long Call Triggers Oil Price Slide and Floats Iran-Ukraine Swap

On 9 March 2026, Vladimir Putin and Donald Trump held their first phone call of the year—lasting about an hour—in which Putin offered rapid diplomatic fixes for the U.S.–Israel war on Iran and linked them to ending the Ukraine conflict, prompting Washington to hint at easing Russian oil sanctions and sparking a 7% overnight drop in WTI crude.

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