March 21, New Delhi – The Trump administration granted a 30-day waiver on sanctions related to the purchase of Iranian oil at sea on Friday, marking its latest effort to ease rising oil prices.
U.S. Treasury Secretary Scott Besant said in a post on X that the waiver would release around 140 million barrels of oil into global markets, helping to reduce pressure on energy supplies.
The decision highlights White House concerns that surging oil prices, following nearly three weeks of U.S. and Israeli strikes on Iran, could negatively impact American businesses and consumers.
Cuba, North Korea, and Crimea are among the regions excluded from the license, which will remain valid until April 19. This marks the third instance in just over two weeks that the Treasury Department has temporarily eased sanctions on oil from U.S. adversaries.
