The US President Donald Trump administration has issued a 30-day sanctions waiver for the purchase of Iranian oil at sea to ease energy supply pressures since the start of the U.S.-Israeli war on Iran.
The authorization was detailed in a general license published Friday on the U.S. Treasury Department’s website.
Under the terms, the sale of Iranian crude and petroleum products loaded onto vessels between March 20 and April 19 will be allowed...READ FULL; FROM THE SOURCE.
US Treasury Secretary Scott Bessent confirmed the development on X, describing the waiver as “narrowly tailored” and “temporary,” intended solely to clear Iranian oil currently stranded at sea.
“By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding worldwide energy availability and helping to relieve temporary supply pressures caused by Iran,” Bessent said.
“In essence, we will be using the Iranian barrels against Tehran to keep prices down as we continue Operation Epic Fury.”
This marks the third time in roughly two weeks that the U.S. has temporarily eased sanctions, following a similar move targeting Russian oil.
Despite the reprieve, oil and gas prices remain high. Brent crude, which traded at roughly $72 per barrel before the outbreak of hostilities, fell from $119 to around $107 overnight.
