US Treasury Issues 30-Day Waiver For Iranian Oil
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Washington: The US Treasury on March 21 issued a 30-day authorisation allowing sale and delivery of Iranian-origin crude and petroleum products already loaded on vessels as of March 20, permitting transfers under a Treasury general licence through April 19, 2026, according to official statements.
The action aims to release roughly 140 million barrels stranded at sea to ease supply pressures and curb price spikes; Treasury Secretary Scott Bessent said the waiver is narrowly tailored, will not permit new production or purchases, and seeks to stabilise markets amid regional tensions this week.