The White House is already considering a scenario of temporarily lifting sanctions on Iranian oil loaded onto tankers. US President Donald Trump hopes that this will help contain the rise in global energy prices amid the war in the Middle East.
Points of attention
- The potential lifting of sanctions on Iranian oil could have significant implications for the global oil market and the ongoing crisis in the Middle East.
- As Brent crude oil prices surge due to the conflict, economists are closely monitoring the developments and potential effects of these policy decisions.
Trump is ready for unexpected decisions
US Treasury Secretary Scott Bessant spoke about the discussions that are already underway in the White House.
According to him, the Trump team can indeed lift sanctions against Iranian oil, which is currently at sea.
Official Washington believes that this led to a halt in the growth of world prices due to the war in the Middle East.
According to the latest data, they intend to remove about 140 million barrels from sanctions.
Essentially, we're going to use Iranian barrels against Iran to keep the price down for the next 10 to 14 days while we continue this campaign. So we have a lot of leverage.
Scott Bessent
US Treasury Secretary
What is important to understand is that on March 19, Brent crude oil was trading at around $111 per barrel.
Economists point out that this is 60% more than before the war in the Middle East began.
