The U.S. issued a normal license permitting the sale of Iranian crude oil and petroleum merchandise loaded on vessels as of March 20 to April 19. Representational file picture.
| Picture Credit score: Reuters
The Trump administration on Friday (March 20, 2026) issued a 30-day sanctions waiver for the acquisition of Iranian oil at sea to ease power provide pressures for the reason that begin of the U.S.-Israeli conflict on Iran, U.S. Treasury Secretary Scott Bessent stated.
This was the third time the U.S. has briefly waived sanctions in about two weeks. The U.S. had beforehand eased sanctions on Russian oil and on Friday (March 20, 2026) issued a normal license permitting the sale of Iranian crude oil and petroleum merchandise loaded on vessels as of March 20 to April 19, in keeping with the license posted to the Treasury Division’s web site.
“By briefly unlocking this present provide for the world, the US will rapidly carry roughly 140 million barrels of oil to world markets, increasing the quantity of worldwide power and serving to to alleviate the momentary pressures on provide attributable to Iran,” Mr. Bessent stated in a press release on X.
“In essence, we will probably be utilizing the Iranian barrels in opposition to Tehran to maintain the worth down as we proceed Operation Epic Fury,” Mr. Bessent stated.
Printed – March 21, 2026 05:30 am IST
