The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian offshore oil to ease energy supply pressures since the start of the U.S. and Israeli war against Iran, U.S. Treasury Secretary Scott Bessent said.
This was the third time the US has temporarily lifted sanctions in about two weeks. The US had already eased sanctions on Russian oil and on Friday issued a general license allowing the sale of Iranian crude oil and petroleum products loaded on ships from March 20 to April 19, according to the license posted on the Treasury Department website.
“By temporarily unlocking this existing supply to the world, the United States will quickly bring about 140 million barrels of oil to global markets, expanding the world’s energy supply and helping to alleviate temporary supply pressures caused by Iran,” Bessent said in a statement on X.
Continues after advertising
“In essence, we will be using Iranian barrels against Tehran to keep the price down while we continue Operation Epic Fury,” Bessent said.
