The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil at sea to ease energy supply pressures since the start of the US-Israeli war on Iran, US Treasury Secretary Scott Bessent said.
This was the third time the US has temporarily waived sanctions in about two weeks. The US had previously eased sanctions on Russian oil and, on Friday, issued a general license allowing the sale of Iranian crude oil and petroleum products loaded on vessels between March 20 and April 19, according to the license posted on the Treasury Department's website.
"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 the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran," Bessent said in a statement on X.
"In essence, we will be using the Iranian barrels against Tehran to keep the price down as we continue Operation Epic Fury," Bessent said.
License does not cover other sanctions
The Treasury Department specified that the general license issued does not authorize any transaction involving any individual located in or organized under North Korea, Cuba, the “Covered Regions” of Ukraine, which were sanctioned to target Russia’s invasion, or the Crimea Region of Ukraine.
It also does not authorize transactions banned by any other Executive order.