March 21, New Delhi – The Trump administration has temporarily lifted sanctions on Iran's oil exports for products already loaded onto vessels and stranded at sea since March 20th.
This limited, short-term authorization issued by the Treasury Department via a general license is in effect until April 19th of this year.
The move aims to release approximately 140 million barrels into global markets to ease soaring prices caused by the U.S.-Iran conflict and disruptions in the Strait of Hormuz.
Broader sanctions on Iran's oil sector, reimposed in 2018-2019 after withdrawing from the nuclear deal, remain in full effect.