Top updates: US lifts sanctions on purchase of Iranian oil for 30 days
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The United States on Friday temporarily lifted sanctions for 30 days on the purchase of Iranian crude oil and petroleum products at sea to ease energy supply pressures amid the conflict in West Asia.
In a social media post, US Treasury Secretary Scott Bessent said that “by temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran”.
Bessent added: “In essence, we will be using the Iranian barrels against Tehran to keep the price down as we continue Operation Epic Fury.”
Here are more top updates from the conflict in West Asia:
- Earlier on Friday, Iran said that it had “no surplus crude oil” to offer to international markets after the US treasury secretary indicated on Thursday that Washington could lift sanctions on Iranian oil at sea.
- “Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US treasury secretary’s statement is solely aimed at giving hope to buyers,” Iranian Oil Ministry spokesperson Saman Ghoddoosi said on social media.
- The waiver on Iranian oil comes days after the Donald Trump administration eased sanctions for Russian oil already...