❗️US grants temporary waiver on Iranian oil sanctions
The US approved a 30-day waiver on sanctions tied to buying Iranian oil at sea on Friday, in a fresh effort to bring down oil prices.
Treasury Secretary Scott Bessent said in a post on X that the waiver is expected to add roughly 140 million barrels of oil to global supply.
The license, published on the Treasury Department’s website after markets closed, states that Iranian oil may be imported into the US under the waiver if needed to complete its sale or delivery.
The US has not significantly imported Iranian oil since sanctions were imposed following the 1979 revolution.
Cuba, North Korea, and Crimea are listed among the regions excluded from the license, which will stay in effect until 19 April.
READ FULL ARTICLE: This article originally appeared on The Cradle
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