The US temporarily allows sale of Iranian oil already at sea

Due to the massive increase in oil prices, the US has temporarily allowed the sale of Iranian oil that is already at sea.

This was reported by the US Treasury Secretary Steve Bessent in H.

This is about 140 million barrels — they plan to quickly release them to world markets to lower prices and stabilize supplies.

While new production or purchases are prohibited, Iranʼs access to revenues will be restricted. The US is also working to bring up to 440 million barrels to the global market.

A week ago, on March 13, the United States made a similar decision for Russian oil at sea.

• The permission was granted amid rising oil prices above $100 per barrel due to attacks on ships in the Persian Gulf and the closure of key oil terminals.
• To keep prices down, the International Energy Agency has decided to release 400 million barrels of oil, and the US plans to release 172 million barrels of oil from its strategic reserve.

For more news and in-depth stories from Ukraine, please follow us on X.