US grants temporary waiver for Iranian oil to curb soaring global prices

2026-03-21 - 04:50

WASHINGTON – The United States has allowed the sale of Iranian oil at sea for the period of 30 days in a big to control the oil price that moved dramatically since the US-Israel war on Iran. The exemption is expected to release around 140 million barrels of Iranian oil into international markets, helping to ease supply pressures, Treasury Secretary Scott Bessent announced on X. The decision comes as oil prices have surged following nearly three weeks of U.S. and Israeli military actions targeting Iran, raising concerns in the White House that rising energy costs could impact American consumers and businesses ahead of the November midterm elections, where Republicans aim to maintain control of Congress. According to the license posted on the Treasury Department’s website after market hours, Iranian crude can be imported into the U.S. under this waiver when required to complete a sale or delivery. This step is part of broader efforts by the administration to curb soaring energy prices, which have climbed above $100 per barrel, reaching levels not seen since 2022. It follows earlier actions, including easing restrictions on Russian oil and issuing a general license on Friday permitting the sale of Iranian crude and petroleum products loaded onto vessels by that date. Meanwhile, US President Donald Trump said, “We are getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East with respect to Iran. He said they are close to completely degrading Iranian Missile Capability, Launchers, and everything else pertaining to them and destroying Iran’s Defense Industrial Base. He added that the US is vely close to eliminating Iranian Navy and Air Force, including Anti Aircraft Weaponry. “Never allowing Iran to get even close to Nuclear Capability, and always being in a position where the USA. can quickly and powerfully react to such a situation, should it take place. (5) Protecting, at the highest level, our Middle Eastern Allies, including Israel, Saudi Arabia, Qatar, the United Arab Emirates, Bahrain, Kuwait, and others,” read Trump’s statement. The Hormuz Strait will have to be guarded and policed, as necessary, by other Nations who use it — The United States does not! If asked, we will help these Countries in their Hormuz efforts, but it shouldn’t be necessary once Iran’s threat is eradicated. Importantly, it will be an easy Military Operation for them.