US issues temporary waiver for stranded Iranian oil shipments
The U.S., led by Treasury Secretary Scott Bessent, has issued a 30-day sanctions exemption allowing the purchase of Iranian crude already at sea in an effort to stabilize soaring global prices amid ongoing tensions with Israel and Iran since early March; this marks only the third time such waivers have been granted over roughly two weeks.
Key Points
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1The U.S. Treasury has issued a temporary, narrowly tailored waiver allowing the purchase of already-stranded Iranian crude to ease energy supply pressures.
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2This action marks the third time in about two weeks that sanctions have been paused due to escalating tensions between Israel and Iran since March 2019.
Perspectives
The U.S. Treasury has issued a narrowly tailored, short-term waiver allowing the purchase of Iranian oil already stranded in international waters to help curb skyrocketing energy costs.
— [Mar 20, 23:59] US pauses sanctions on Iranian oil 'stranded at sea' (Nypost)The Trump administration has temporarily lifted longstanding bans that restricted Iran's entire industry for years by authorizing the sale and delivery of specific barrels already in transit.
— [Mar 20, 23:51] U.S. issues sanctions waiver on Iranian oil at sea (CBS News)Treasury Secretary Scott Bessent stated that this is a third time within about two weeks the administration has waived these specific restrictions to ease energy supply pressures.
— [Mar 20, 00:15] Trump admin lifts sanctions on Iranian oil at sea (Theguardian)This move exempts buyers from tight U.S. regulations that have historically prevented any commercial transactions involving the country's hydrocarbons while prices continue to rise.
— [Mar 20, 23:51] Trump administration temporarily lifts sanctions on Iranian oil at sea (Independent.co.uk)