US Eases Sanctions on Iranian Oil

The Trump administration in the United States has granted a 30-day sanctions waiver on Iranian oil, allowing the purchase of Iranian crude at sea.

This move is intended to address energy supply pressures that have arisen since the start of the US-Israeli conflict with Iran.

The waiver, outlined in a general license released Friday on the US Treasury Department’s website, permits the sale of Iranian crude oil and petroleum products loaded onto vessels between March 20 and April 19.

US Treasury Secretary Scott Bessent confirmed the development on X, calling the waiver “narrowly tailored” and “temporary.”

The measure is designed to release Iranian oil that is currently stranded at sea.

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“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.

He further added, “In essence, we will be using the Iranian barrels against Tehran to keep prices down as we continue Operation Epic Fury.”

This is the third time in about two weeks that the US has eased sanctions temporarily, following a similar action aimed at Russian oil.

Despite the relief, oil and gas prices remain high.

Brent crude, which was priced around $72 per barrel before the conflict started, has dropped from $119 to approximately $107 per barrel.

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