The US has issued a 30-day sanctions waiver for Iranian oil already loaded on ships, aiming to ease global supply pressures amid regional conflict.

WASHINGTON: The Trump administration has issued a 30-day sanctions waiver for the purchase of Iranian oil already loaded on vessels at sea.

US Treasury Secretary Scott Bessent said the move aims to ease global energy supply pressures since the start of the US-Israeli war on Iran.

This marks the third time the US has temporarily waived sanctions in approximately two weeks. The Treasury had previously eased sanctions on Russian oil.

A general license posted to the Treasury Department’s website allows the sale of Iranian crude and petroleum products loaded from March 20 to April 19.

“By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets,” Bessent said in a statement.

He stated this action expands worldwide energy availability and helps relieve temporary supply pressures caused by Iran.

“In essence, we will be using the Iranian barrels against Tehran to keep the price down as we continue Operation Epic Fury,” Bessent added.

 The Sun Malaysia