- Treasury Secretary Scott Bessent announced the U.S. may soon unsanction approximately 140 million barrels of Iranian crude currently held in tankers at sea.
- The proposed waiver aims to increase global supply and lower fuel prices following Iran's closure of the strategic Strait of Hormuz.
- Officials indicate the move would target oil already afloat and could provide a market buffer for roughly 10 to 14 days.
- Market reactions were immediate with global oil prices falling up to 3 percent following the signal of potential sanctions relief.
- The strategy is being framed by the administration as using Iranian barrels against the regime to cap soaring energy costs.
United States considers lifting sanctions on stranded Iranian oil to stabilize global energy prices
Mar 20, 2026, 11:15:53 PM UTC(1 day ago)
Impact: Medium
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From:@WatcherGuru
JUST IN: 🇺🇸🇮🇷 US issues license allowing sale of some Iranian oil.
