US EditionTrump administration temporarily lifts sanctions on Iranian oil at sea amid soaring prices
The waiver permits sale of 140 million barrels of Iranian oil already at sea through April 19, aiming to ease global supply pressures amid soaring prices above $100 per barrel.
- Late Friday, the Treasury Department's Office of Foreign Assets Control issued a General License permitting purchase and offloading of Iranian and Russian oil already loaded on any vessel until April 19.
- Amid a meteoric rise in oil prices, the administration is temporarily lifting bans for next month to curb surges tied to the U.S.-Israeli war with Iran and Brent crude at $119 per barrel.
- By waiving ten separate sets of sanctions, the move narrowly tailors a short-term authorization applying only to Iranian petroleum already in transit, using stranded barrels to keep prices down while long-standing sanctions remain.
- President Donald Trump suggested the relaxation could inject approximately 140 million barrels into global markets while Treasury officials said Tehran won't easily benefit because longstanding banking sanctions cut Iran off from the global financial system.
- Framed against broader security needs, officials said the administration is weighing deployment of a second Marine Expeditionary Unit while the Pentagon seeks $200 billion, warning the Strait of Hormuz must be guarded by NATO and allied naval forces.
197 Articles
197 Articles
To dampen the rise in fuel prices, the US has suspended sanctions for buying Iranian oil by sea for 30 days. Finance Minister Bessent stated on X that this could bring around 140 million barrels of oil to world markets.
With the Iran war, oil prices have skyrocketed and risk punishing Donald Trump in the fall elections. In an attempt to slow the development, the White House has temporarily lifted sanctions on Iranian oil. – But if gasoline prices continue to rise domestically, it will end up in a completely different situation, says US expert Dag Blanck.
The US administration authorizes for 30 days the marketing of 140 million barrels of oil stranded at sea.
US to Temporarily Allow Sale of Iranian Oil at Sea to Ease Global Energy Prices
The United States will temporarily allow the sale of Iranian oil already stranded at sea for 30 days, in a move aimed at easing pressure on global energy prices while maintaining pressure on Tehran, according to US Treasury Secretary Scott Bessent on March 21. The authorization, announced by US Treasury Secretary Scott Bessent, permits purchases of sanctioned Iranian crude until April 19. The measure applies only to oil already loaded on tankers…
India's refineries intend to reverse the acquisitions of Iranian oil, and the refining of other Asian countries analyzes the same possibility, after Washington temporarily suspended sanctions to halt the energy crisis caused by the war between the United States and Israel against Iran, they declared Saturday traitors quoted by Reuters.
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