The United States has introduced a limited sanctions waiver allowing the sale of Iranian oil already stranded at sea, aiming to ease global energy pressures caused by the ongoing conflict involving the US, Israel, and Iran. The measure, announced by US Treasury Secretary Scott Bessent, is designed as a short-term intervention to stabilise oil markets without relaxing broader sanctions on Tehran.
Under this 30-day waiver, Iranian crude and petroleum products that were already loaded onto vessels between March 20 and April 19 can be sold in global markets. The policy is strictly restricted to existing shipments and does not permit any new production, purchases, or expansion of Iran’s oil exports. According to Bessent, this step could release approximately 140 million barrels of oil into the global supply, helping to counter disruptions triggered by the war.
The move comes amid rising oil prices and supply concerns, particularly due to tensions in the Strait of Hormuz, a critical global shipping route. By unlocking oil that is already in transit, the US aims to quickly inject additional supply into the market and reduce price volatility.
This waiver is part of a broader strategy by the US administration to manage energy markets during the conflict. It follows earlier steps to ease restrictions on other oil sources, including Russian supply. Officials stated that, in total, efforts so far have helped bring around 440 million additional barrels into the global market.
Despite this temporary relief, Washington has made it clear that its overall stance toward Iran remains unchanged. The US intends to continue its “maximum pressure” campaign, ensuring that Iran faces restrictions in accessing revenue generated from these sales. The waiver is therefore structured to stabilise global markets while maintaining financial and economic pressure on Tehran.
Officials also highlighted concerns about the role of other countries, particularly China, which has reportedly been stockpiling Iranian oil at lower prices. This adds another layer to the geopolitical and economic dynamics surrounding global energy supply.
Overall, the decision reflects a balancing act by the US—continuing military and economic pressure on Iran while taking targeted steps to prevent further disruption to global energy markets and mitigate the broader economic impact of the conflict.
