US eases Iran oil sanctions temporarily. The Treasury Department has issued a 30-day waiver on Iranian crude and petroleum products already in transit, covering cargoes loaded between March 20 and April 19. Treasury Secretary Scott Bessent stated the authorization applies strictly to oil already at sea and does not permit new purchases or production. The move aims to inject approximately 140 million barrels into global markets to address energy supply concerns amid ongoing Middle East conflict. This marks the third sanctions relaxation in two weeks, following earlier relief on Russian oil. Bessent indicated the strategy intends to increase worldwide energy supply and help stabilize prices during heightened geopolitical tensions affecting energy flows.
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