The Donald Trump administration has granted a 30-day waiver allowing the purchase of Iranian oil at sea, aiming to ease global energy supply pressures since the start of the U.S.-Israeli conflict with Iran.
The details were released Friday in a general license posted on the U.S. Treasury Department’s website. Under the waiver, the sale of Iranian crude and petroleum products loaded onto vessels between March 20 and April 19 is permitted.
US Treasury Secretary Scott Bessent confirmed the move on X, calling the waiver “narrowly tailored” and “temporary.” He said it is designed only to release Iranian oil currently stranded at sea.
“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 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 temporary easing of sanctions by the U.S. in about two weeks, following a similar measure for Russian oil. Despite the relief, oil prices remain elevated. Brent crude, which traded at roughly $72 per barrel before the conflict, dropped from $119 to around $107 overnight.
