US Allows Sale of 140 Million Barrels of Iranian Oil to Ease Market Pressure

Casablanca – The United States has authorized a temporary easing of sanctions to allow the sale and delivery of Iranian oil already stored at sea, opening the door for up to 140 million barrels to enter global markets over the coming weeks.

The measure, approved Friday by the US Treasury Department, applies only to oil and petroleum products loaded onto tankers before March 20. The authorization runs until April 19 and is designed to quickly increase supply at a time of rising energy prices tied to the ongoing conflict in the Middle East.

Treasury Secretary Scott Bessent said the move was tightly controlled and short-term. He described it as a way to release oil that has effectively been stranded offshore, adding that the goal is to ease temporary supply pressure without broadly lifting sanctions on Iran.

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By unlocking these volumes, Washington expects to inject significant supply into global markets. Officials say the additional barrels could help stabilize prices, which have surged in recent weeks amid escalating tensions and repeated attacks on energy infrastructure across the region.

The decision comes as disruptions in the Strait of Hormuz continue to rattle markets. The waterway typically handles around 20 percent of the world’s oil and gas flows, making it a critical chokepoint for global energy trade.

Bessent had signaled the possibility of such a step a day earlier, noting that any sanctions relief would be narrowly focused on oil already in storage at sea.

He also indicated the move carries a strategic dimension. The release of Iranian oil could serve as leverage in dealing with Tehran, while the United States continues its military campaign alongside Israel under the operation known as Epic Fury, launched on February 28.

Oil prices ended Friday’s session higher, though still below the $120 per barrel mark, a level they have approached several times since the conflict began.

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