Treasury Secretary says US considering lifting sanctions on Iranian oil currently at sea
“In the coming days, we may un-sanction the Iranian oil that’s on the water. It’s about 140 million barrels,” Scott Bessent said Thursday on Fox Business Network’s “Mornings with Maria.” He said the move is a way to prevent only China from benefiting from the crude.
Bessent said it amounts to roughly “10 days to two weeks of supply that the Iranians had been pushing out that would have all gone to China,” and that “good actors” such as Malaysia, Singapore, Indonesia, Japan and India should have access.
“In essence, we will be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days, as we continue this campaign,” he said.
The Trump administration also eased sanctions on certain Russian oil shipments for 30 days to boost global oil supplies while the Iran war continues.
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