The Trump administration issued on Friday a 30-day sanctions exemption for the purchase of Iranian oil at sea to ease energy-supply pressures since the start of the U.S.- and Israel’s war against Iran, said Scott Bessent, the U.S. Treasury Secretary.
This was the third time the United States had temporarily suspended sanctions in about two weeks. The United States had already eased sanctions on Russian oil, and on Friday issued a general license that allows the sale of Iranian crude oil and petroleum products loaded on ships from March 20 to April 19, according to the license published on the Treasury Department’s website.
‘By temporarily unlocking this existing supply for 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 relieve temporary pressures on supply caused by Iran,’ Bessent said in a statement on X.
‘In essence, we will be using Iranian barrels against Tehran to keep prices down while we continue the Epic Fury operation,’ Bessent said.
