US issues 30-day waiver allowing sale of iranian oil in transit

KABUL (Pajhwok): The US Department of the Treasury has issued a 30-day waiver permitting the sale of Iranian oil currently in maritime transit, aiming to ease pressure on global energy markets.

The move comes amid a sharp surge in oil and gas prices driven by escalating regional tensions.

This is the third temporary sanctions waiver granted by the United States in the past two weeks. Earlier, Washington also relaxed certain restrictions on Russian oil.

According to reports, a general license published on Friday on the US Treasury’s website allows Iranian crude oil and petroleum products loaded onto vessels between March 20 and April 19 to be sold.

Citing a report by The Guardian, US Treasury Secretary Scott Bessent said the decision was made at a time when heightened tensions among the United States, Israel, and Iran have placed additional strain on global energy supplies.

In a post on the social media platform X, Bessent stated: “By releasing this existing temporary supply, the United States will quickly bring approximately 140 million barrels of oil into global markets, helping to alleviate short-term supply pressures.”

However, some analysts have expressed concern over the potential implications of the decision.

David Tannenbaum of Blackstone Compliance Services told the BBC: “In effect, this measure could allow Iran to benefit from oil sales to finance war efforts.”

Meanwhile, the Treasury Secretary emphasized that the waiver is “temporary and limited,” applying only to oil already in transit and not permitting any new purchases or production.

He added that Iran’s ability to benefit from the revenues would be restricted and reaffirmed that the United States will continue its policy of maximum pressure on the country.

sa