The administration of Donald Trump has approved a 30-day waiver allowing limited transactions involving Iranian oil, in a move aimed at easing global energy supply disruptions triggered by the ongoing conflict involving Iran.
Details of the authorisation were contained in a general licence released on Friday by the U.S. Treasury Department.
Under the directive, the sale of Iranian crude and related petroleum products loaded onto vessels between March 20 and April 19 will be permitted, offering temporary relief to strained oil markets.
Confirming the development, US Treasury Secretary Scott Bessent said the waiver was limited in scope and designed as a short-term intervention.
He explained that the measure was intended to facilitate the release of Iranian oil currently stranded at sea, thereby boosting supply.
“By unlocking this existing supply, the United States will inject about 140 million barrels of oil into the global market, improving availability and easing pressure caused by the crisis,” he stated.
Bessent added that the move forms part of broader efforts by Washington to stabilise energy prices while maintaining pressure on Tehran.
The waiver marks the third instance in recent weeks that the United States has relaxed sanctions, following a similar step involving Russian oil exports.
Despite the intervention, global oil prices remain elevated. Benchmark Brent crude, which traded at about $72 per barrel before the outbreak of hostilities, surged to $119 before dropping slightly to around $107.
Analysts say the temporary easing underscores growing concerns over supply shortages as geopolitical tensions continue to disrupt energy markets worldwide.
