US Temporarily Allows Sale of Iranian Oil to Stabilize Global Market

The administration of US President Donald Trump has eased sanctions on Iranian oil, granting a temporary license for the sale of limited volumes of crude already at sea.

US Treasury Secretary Scott Bessent announced the move on social media platform X. "Today, the US Department of the Treasury is issuing a narrow, short-term authorization permitting the sale of Iranian oil that is currently at sea," he wrote.

Bessent stated that sanctioned Iranian oil is currently being purchased by China at discounted prices. By temporarily unlocking these existing volumes, he explained, the US can quickly bring approximately 140 million barrels of oil to the global market. This action aims to increase global energy supplies and reduce temporary supply pressure caused by Iran's actions.

The Treasury Secretary framed this as a strategic move, noting that Washington will essentially use Iran's own oil against Tehran to help contain prices while continuing its "Operation Epic Fury" pressure campaign. He emphasized that Iran is "the head of the snake for global terrorism."

However, Bessent clarified strict limitations. The temporary authorization is strictly limited to oil already in transit and does not permit new purchases or increased production. Furthermore, Iran will find it difficult to access any revenue generated from these sales, as the US continues its policy of maximum pressure and restricts the country's access to the international financial system.

The Trump administration is reportedly working to bring an additional 440 million barrels of oil to the world market, aiming to weaken Iran's ability to leverage tensions in the Strait of Hormuz. According to Treasury Department information, this sanctions relief is temporary and will remain in effect until April 19.

In response to the US announcement, a representative from Iran's Oil Ministry posted on X that the country has no oil reserves "at sea or for supplying international markets." The official characterized Washington's measures as merely an attempt to "instill hope in buyers."