US Lifts Sanctions on Iranian Oil Stranded at Sea

The United States has issued a 30-day sanctions waiver to allow the sale of Iranian crude oil and petroleum products that are currently stranded at sea, U.S. Treasury Secretary Scott Bessent said on March 20. A general license had been issued authorizing the delivery and sale of Iranian crude oil and petroleum products that had already been loaded onto ships as of March 20, according to a document released by the Treasury Department’s Office of Foreign Assets Control. The license is valid until April 19. Bessent wrote on X that the United States issued the license “to maximize the flow of energy to the world” and keep oil prices down amid the ongoing conflict with Iran....