The administration of Donald Trump has issued a 30-day waiver on sanctions related to Iranian oil purchases at sea, in a bid to ease surging global energy prices amid ongoing conflict in the Middle East.
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According to Scott Bessent, the move could release around 140 million barrels of oil into global markets, helping to stabilize supply and reduce pressure on prices, which have risen sharply since the escalation of hostilities involving Iran.
The temporary license, published by the US Treasury Department, allows limited transactions involving Iranian crude to facilitate delivery and sale. However, it remains unclear whether any of this oil will be imported into the United States.
The waiver is part of a broader strategy by Washington to manage energy costs, especially as oil prices have surged above $100 per barrel following weeks of conflict. Analysts say the move is also driven by domestic economic concerns ahead of upcoming elections.
This marks the third sanctions waiver issued in recent weeks, following similar steps involving Russian oil. The easing measures are intended to inject additional supply into the market, particularly benefiting Asian countries that are major consumers of Middle Eastern crude.
Despite the waiver, US officials emphasized that pressure on Iran will continue, with restrictions on access to financial systems remaining in place.
Energy markets have been further strained by disruptions in the Strait of Hormuz, a critical passage for nearly 20% of the world’s oil and gas shipments.
While the move may provide short-term relief, analysts warn that lasting stability in oil prices will depend on broader geopolitical developments and the reopening of key supply routes.
