US Temporarily Lifts Sanctions on Iranian Oil to Stabilize Crude Prices
The United States has approved a temporary waiver allowing the sale of Iranian oil currently stranded at sea, in a move aimed at stabilizing global crude prices.
In a statement issued on Saturday, Scott Bessent, Secretary of the United States Department of the Treasury, confirmed that the authorization applies strictly to Iranian-origin crude oil and petroleum products that have already been loaded onto vessels.
According to the statement, the measure is limited in scope and duration, targeting only shipments already at sea, rather than opening broader channels for Iran’s oil exports.
The decision is seen as part of efforts by the US government to ease pressure on global energy markets and prevent a spike in crude oil prices, especially amid ongoing geopolitical uncertainties affecting supply.
Iran, which has long faced US sanctions over its oil exports, is expected to benefit from the temporary relief, although analysts note that the impact may be short-lived due to the narrow conditions attached to the waiver.
Energy experts say the move could slightly increase global oil supply in the short term, potentially helping to cool rising fuel prices, but it is unlikely to significantly alter long-term market dynamics.
The US government has not indicated whether the authorization will be extended beyond the current arrangement.
