Newsroom, March 21, 2026:
The Trump administration's Treasury Department has temporarily lifted sanctions on the purchase and sale of Iranian oil at sea for 30 days, effective from March 20 to April 19.
This general license targets crude and petroleum products already on tankers, aiming to release around 140 million barrels into global markets and curb price spikes triggered by disruptions in the Strait of Hormuz during the US-Israeli war on Iran.
Treasury Secretary Scott Bessent described the move as a way to use existing Iranian supplies against Tehran while stabilizing energy availability.
This marks the third such short-term waiver in recent weeks, following similar steps for Russian oil cargoes.
