Temporary U.S. Waiver for Iranian Oil: A Move to Contain the Global Supply Crisis

U.S. Treasury Secretary Scott Bessent announced that the administration of President Donald Trump has granted a temporary 30-day sanctions waiver allowing the purchase of Iranian oil at sea. The move is aimed at easing mounting pressure on global energy supplies following the outbreak of the U.S.-Israeli war on Iran.

This decision marks the third such waiver within approximately two weeks, reflecting a flexible U.S.

approach to managing the energy file amid escalating regional tensions.

Washington had previously taken similar steps, including easing certain restrictions on Russian oil.

According to a general license issued Friday by the U.S. Department of the Treasury, the sale of Iranian crude oil and petroleum products already loaded onto vessels will be permitted from March 20 through April 19, as stated in the official document published on the department’s website.

In a statement posted on X, Bessent said:

“By temporarily opening this existing supply to the world, the United States will quickly provide approximately 140 million barrels of oil to global markets, increasing overall energy supply and helping to ease the temporary pressure caused by Iran.”

He added:

“In short, we will use Iranian barrels against Tehran to keep prices low while we continue Operation Wrath.”