Source: Supply Chain Brain
The Treasury Department on Friday temporarily lifted sanctions on Iranian oil at sea, allowing those cargoes to be sold to most countries. The license covers oil that was loaded on vessels as of March 20 and runs through April 19.
Treasury Secretary Scott Bessent said the step could add about 140 million barrels of crude to the market. The decision follows last week's easing of sanctions on Russian oil, signaling a broader effort to loosen supply constraints in global energy markets.
At the same time, the administration said Iran would see little economic benefit from the move. Secretary Bessent said Iran would have difficulty accessing the revenue from those sales and that the United States would keep maximum pressure on Iran's access to the international financial system.
