WASHINGTON, D.C. — The Trump administration has temporarily eased sanctions on Iranian oil already at sea, aiming to stabilize global energy markets as prices surge during the ongoing conflict with Iran.
The Treasury Department authorized the purchase of Iranian oil loaded onto vessels before the policy took effect, allowing transactions through April 19. Officials estimate the move could release roughly 140 million barrels into the global supply, targeting short-term price relief as oil prices remain elevated above $100 per barrel.
Treasury Secretary Scott Bessent said the measure is designed to counter supply disruptions while maintaining broader sanctions that limit Iran’s access to the global financial system. The administration framed the policy as a way to increase supply without significantly benefiting Tehran economically.
The decision comes alongside a similar temporary allowance for Russian oil shipments and follows additional steps, including releasing oil from the U.S. Strategic Petroleum Reserve. However, critics, including some Democratic lawmakers, argue the move risks undermining sanctions pressure and could indirectly benefit geopolitical rivals.
Rising tensions in the Strait of Hormuz, a key global shipping route, have slowed tanker traffic and contributed to price volatility. Officials say further actions, including potential naval coordination with allies, are under consideration.
Sources:
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CBS News – MBFC Rating
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