US allows 30-day sale of Iran oil at sea in bid to tame prices
Summary
The US Treasury Department has temporarily waived sanctions on the purchase of Iranian oil at sea for 30 days to help lower global energy prices amid ongoing US-Israel strikes on Iran.
Key Points
- The Trump administration has issued a 30-day waiver allowing the sale of Iranian oil at sea to reduce rising oil prices.
- The waiver is expected to release around 140 million barrels of oil into global markets, benefiting primarily Asian buyers.
- This move is the third recent sanctions waiver by the US Treasury aimed at taming energy prices driven up by US and Israeli strikes on Iran.
- Despite the waiver, the US maintains maximum pressure on Iran to prevent it from accessing generated revenue and financial systems.
