The United States has issued a 30-day sanctions waiver allowing the sale of Iranian oil currently stuck at sea. This decision aims to alleviate the pressure on global energy supplies due to the conflict with Iran. US Treasury Secretary Scott Bessent mentioned that this move is intended to stabilize global markets by releasing about 140 million barrels of oil.
The waiver, authorized by the US Treasury Department, permits the sale of Iranian crude oil and petroleum products loaded onto vessels between March 20 and April 19. It is specified that this authorization does not cover new production or fresh purchases of Iranian oil. Bessent described this action as a targeted intervention to counter supply disruptions caused by the ongoing conflict.
This waiver marks the third relaxation in recent weeks, following similar steps taken regarding Russian oil supplies. Bessent highlighted that the Trump Administration has already introduced substantial volumes into the global market. Despite this temporary easing, Washington affirmed that its broader sanctions against Tehran would remain in place to restrict Iran’s revenue access and maintain maximum pressure.
