US President Donald Trump has ordered a temporary permit to sell Iranian oil already at sea, in what the US leader says is a plan to stabilize global markets.
Points of attention
- The decision is expected to help regulate global energy prices by expanding the volume of energy supplies available.
- The move is part of 'Operation Epic Fury' where Iranian barrels are used against Tehran to keep prices low.
US eases sanctions pressure on Iran
US Treasury Secretary Scott Bessant commented on the new unexpected decision of the head of the White House.
As the latter assures, the easing of sanctions is temporary and applies only to Iranian oil that was already in the tanker at sea as of March 20.
Moreover, the head of the US Treasury Department added that official Tehran will face difficulties in trying to access the revenues received.
The Trump team believes that this decision will help regulate global energy prices.
The United States intends to bring about 140 million barrels of oil to world markets.
In this way, Washington will expand the volume of global energy supplies and help reduce the temporary pressure on supplies caused by Iran.
Essentially, we will use Iranian barrels against Tehran to keep the price low while continuing Operation Epic Fury.
Scott Bessent
US Treasury Secretary
