The US Treasury Department announced that President Donald Trump's administration on Friday granted a new sanctions waiver that allows the purchase of Iranian oil at sea for 30 days, in a move aimed at easing pressure on energy supplies since the outbreak of the US-Israel war on Iran.
The waiver is the third in nearly two weeks, part of a series of measures taken by Washington to address the growing turmoil in global energy markets. The United States had earlier eased some restrictions on Russian oil before issuing a general license on Friday to allow the sale of Iranian crude oil and petroleum products loaded onto ships from March 20 to April 19, according to the document published on the Treasury Department's website.
Treasury Secretary Scott Besant said in a statement on the "X" platform that opening up the supply "temporarily" would allow about 140 million barrels of oil to be pumped into global markets, which would increase supply and ease temporary pressures on supplies "caused by Iran."
"In short, we will use Iranian barrels against Tehran to keep prices low while we continue the epic fury," Besant added.