The United States waives sanctions for the selling of Iranian oil at sea for 30 days.

In an effort to alleviate strain on the energy supply since the beginning of the U.S.-Israeli war on Iran, the Trump administration on Friday, March 20, 2026, approved a 30-day waiver of sanctions for the purchase of Iranian oil at sea, according to U.S. Treasury Secretary Scott Bessent.In around two weeks, the United States has temporarily waived sanctions three times. According to the license posted on the Treasury Department's website, the U.S. has earlier loosened sanctions on Russian oil and on Friday, March 20, 2026, issued a general license for the sale of Iranian crude oil and petroleum products loaded on boats as of March 20 to April 19."The United States will swiftly bring about 140 million barrels of oil to global markets by temporarily unlocking this existing supply for the world, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran," Mr. Bessent stated in a statement on X."As we continue Operation Epic Fury, we will essentially be using the Iranian barrels against Tehran to keep the price down," Mr. Bessent stated.

According to US Treasury Secretary Scott Bessent, the waiver will assist ease strain on the energy supply and bring around 140 million barrels of oil to international markets. The action underscores the White House's worry that rising oil prices, which have risen by around 50% to over $100 per barrel, the highest since 2022, will negatively impact US consumers and businesses in the run-up to the November midterm elections, when Republicans aim to keep control of Congress. But Bessent's prior proposal for a waiver sparked worries that it might help Iran's military program.