July 1, 2018 / 4:21 PM / 21 days ago

Trump says OPEC manipulating oil market, warns Europe on Iran

WASHINGTON (Reuters) - President Donald Trump accused OPEC of manipulating world oil markets and warned it to stop, while also saying the United States will sanction European companies that do business with Iran.

FILE PHOTO: U.S. President Donald Trump delivers remarks at an event marking the 6-month anniversary of the package of changes to the tax code he signed into law, at the White House in Washington, U.S. June 29, 2018. REUTERS/Jonathan Ernst

Asked on Fox News’ “Sunday Morning Futures with Maria Bartiromo” if someone was manipulating oil markets, Trump said, “OPEC is and they better stop it because we’re protecting those countries, many of those countries. OPEC is manipulating.”

Trump also was asked on the news programme that aired on Sunday if he will sanction European companies if they do business with Iran. He said, “Yep, of course. That’s what we’re doing, absolutely.”

Reporting by Kevin Drawbaugh and Jeff Mason; Editing by Lisa Shumaker

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